5 Dividend Stocks to Buy According to Billionaire Dan Loeb’s Third Point

3. EQT Corporation (NYSE:EQT)

Number of Hedge Fund Holders: 46
Dividend Yield as of March 4: 2.01%
Third Point’s Stake Value: $108,505,000

EQT Corporation (NYSE:EQT), an American energy company, is one of the recent acquisitions of Third Point in Q4. The hedge fund started building its position in the company with a stake worth over $108.5 million. The company accounted for 0.75% of Dan Loeb’s portfolio.

In 2021, EQT Corporation (NYSE:EQT) temporarily suspended its dividends to prioritize its debt repayment. However, in February, the company announced the reinstatement of its quarterly dividend at $0.125 per share. As of March 4, the stock’s dividend yield stood at 2.01%. In January, Truist set a $31 price target on EQT Corporation (NYSE:EQT), with a Buy rating on the shares, as the firm raised its oil price targets for 2022 and 2023.

The number of hedge funds tracked by Insider Monkey holding stakes in EQT Corporation (NYSE:EQT) declined to 46 in Q4, from 57 in the preceding quarter. The total value of these stakes is over $1.21 billion.