5 Best Fuel Stocks to Buy Now

In this article, we will discuss the 5 best fuel stocks to buy now. To read the detailed analysis and recent updates on the energy industry, go directly to the 10 Best Fuel Stocks to Buy Now.

5. EQT Corporation (NYSE:EQT)

Number of Hedge Fund Holders: 56

TTM PE ratio as of April 22: 7.47

EQT Corporation (NYSE:EQT) is an American oil and gas exploration and production company. As of December 2022, the company had proved reserves of 25 billion cubic feet of gas equivalent. Close to 90% of the company’s proven reserves are in Marcellus Formation, most of which is natural gas. It is one of the best energy stocks to invest in according to hedge funds.

On April 19, EQT Corporation (NYSE:EQT) declared a 15-cent quarterly dividend, which is in line with its previous one. The dividend is payable by June 1 to the shareholders of record on May 10. The company has a dividend yield of 1.84 as of April 22.

In the last three months, 18 Wall Street analysts have covered EQT Corporation (NYSE:EQT) and 13 of them keep a Buy rating while 5 of them maintain a Hold rating. The average analyst price target for the company stock stands at around $43.89, representing a 34.6% upside from the stock price of $32.59 at the time of market closing on April 22.

Artisan Partners made the following comment about EQT Corporation (NYSE:EQT) in its Q4 2022 investor letter:

“Finally, shares of US natural gas producer EQT Corporation (NYSE:EQT) fell on lower-than-expected production due to extreme weather in December. However, the company still produced strong free cash flow that beat expectations. EQT is one of the largest producers of natural gas, an energy source that emits significantly less carbon dioxide than other fossil fuels, such as coal or oil. We sold the position, as it had reached its target valuation.