5 Best Value Stocks to Buy According to Billionaire Dan Loeb

03. EQT Corporation (NYSE:EQT)

Third Point’s Stake Value: $258.860 Million

Percentage of Third Point’s 13F Portfolio: 6.12%

Number of Hedge Fund Holders: 52

P/E Ratio (Non-GAAP) as of October 09: 19.89

EQT Corporation (NYSE:EQT) was founded in 1878 and is based in Pittsburgh, Pennsylvania. EQT Corporation (NYSE:EQT) operates as a natural gas production company in the United States.

On July 20, EQT Corporation (NYSE:EQT) announced a 20% hike in its quarterly dividend to $0.15 per share. As of October 10, the stock’s dividend yield stood at 0.93%. On September 21, Citi analyst Paul Diamond maintained a Buy rating on the shares of EQT Corporation (NYSE:EQT) while raising his price target for the company from $48 to $60. At the end of the second quarter of 2022, 52 hedge funds in the database of Insider Monkey held stakes worth $2.3 billion in EQT Corporation (NYSE:EQT), compared to 52 in the preceding quarter worth $2.1 billion.

In its Q2 2022 investor letter, ClearBridge Mid Cap Growth Strategy Fund mentioned EQT Corporation (NYSE:EQT) and explained its insights for the company. Here is what the fund said:

“We initiated a position in EQT (NYSE:EQT), the largest natural gas producer in the U.S., which possesses high-quality acreage within the Marcellus Shale basin. EQT has benefited from tight supply and demand dynamics as cleaner-burning natural gas takes global share from coal and exports to Europe and Asia provide an avenue of demand growth. Longer-term contracts enhance EQT’s earnings visibility as Europe eliminates its dependence on Russian gas.”