5 LNG Stocks to Buy Amid Russia-West Energy Wars

4. EQT Corporation (NYSE:EQT)

Number of Hedge Fund Holders: 52

EQT Corporation (NYSE:EQT) is a Pennsylvania-based energy company engaged in hydrocarbon exploration and pipeline transport, supplying petroleum, natural gas, natural gas liquids, and liquefied natural gas. The company is positioned to benefit from Europe’s energy crisis with more than 30% upside potential. 

On September 6, EQT Corporation (NYSE:EQT) announced the acquisition of THQ Appalachia’s upstream assets and XcL Midstream’s gathering and processing assets for $5.2 billion in cash and stock. The company also doubled its share repurchase program to $2 billion, and raised its year-end 2023 debt reduction goal to $4 billion from $2.5 billion. This makes EQT Corporation (NYSE:EQT) one of the best LNG stocks to buy amid Russia-West energy wars. 

Mizuho analyst Vincent Lovaglio on August 18 raised the price target on EQT Corporation (NYSE:EQT) to $59 from $55 and reiterated a Buy rating on the shares. Structural undersupply, driven by multi-year underinvestment, should support higher than anticipated commodity prices and larger than expected cash returns, making the energy group a relatively good investment versus the broader market, the analyst told investors in a bullish thesis.

According to Insider Monkey’s database, 52 hedge funds were long EQT Corporation (NYSE:EQT) at the end of the second quarter of 2022, with collective stakes worth $2.3 billion. Dan Loeb’s Third Point is the leading stakeholder of the company, with 7.5 million shares worth about $259 million. 

Here is what ClearBridge Mid Cap Growth Strategy Fund has to say about EQT Corporation (NYSE:EQT) in its Q2 2022 investor letter:

“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.”