Top 5 Dividend Stocks Favored by Carolina Panthers Owner David Tepper

4. EQT Corporation (NYSE:EQT)

Appaloosa Management LP’s Stake Value: $86,266,500
Dividend Yield as of February 23: 1.87%

EQT Corporation (NYSE:EQT) is an American energy company that is engaged in the exploration of hydrocarbon. On February 9, the company declared a quarterly dividend of $0.15 per share, which fell in line with its previous dividend. The stock has a dividend yield of 1.87%, as of February 23.

During the fourth quarter of 2022, Appaloosa Management increased its position in the company by 1%, which took its total EQT stake to over $86.2 million. The company represented 6.39% of the firm’s 13F portfolio.

Wells Fargo initiated its coverage of EQT Corporation (NYSE:EQT) in January with an Overweight rating and a $41 price target. The firm called it one of the largest exploration and production companies by volume and resource base.

As per Insider Monkey’s Q4 2022 database, 56 hedge funds owned stakes in EQT Corporation (NYSE:EQT), worth over $1.2 billion. With over 6.4 million shares, Soroban Capital Partners was the company’s leading stakeholder in Q4.

ClearBridge Investments mentioned EQT Corporation (NYSE:EQT) in its Q3 2022 investor letter. Here is what the firm has to say:

“We also added natural gas company EQT (NYSE:EQT) in the energy sector. As one of the lowest-cost domestic producers, EQT stands to benefit from its position as a leading supplier of natural gas to a world suffering from critically low energy reserves. The Russian invasion of Ukraine and threats to hold natural gas exports hostage have spurred a surge in European energy prices, generating long-term agreements by European countries to purchase U.S. natural gas.

This strong demand and elevated prices have helped EQT strengthen its balance sheet and position it to take advantage as opportunities emerge for natural gas to plug the gaps in the global energy transition from fossil fuels to renewables.”