5 Most Undervalued Natural Gas Stocks To Buy According To Hedge Funds

2. EQT Corporation (NYSE:EQT)

TTM PE Ratio as of November 8: 5.46

Number of Hedge Fund Holders: 51

EQT Corporation (NYSE:EQT) is the largest upstream oil and gas production company in the U.S. Through its subsidiary, it also offers commercial and asset management services.

On October 12, EQT Corporation (NYSE:EQT) announced a 5% raise in its quarterly dividend to $0.1575, payable by December 1 to the shareholders of record on November 8. The company’s dividend yield is 1.579% as of November 8.

On October 17, it was announced that EQT Corporation (NYSE:EQT) was one of the recipients of $7 billion in grants by the Biden administration to develop the regional hydrogen hubs in the U.S. The company is one of the partners in the Appalachian Hydrogen Hub and will receive up to $925 million.

On October 25, EQT Corporation (NYSE:EQT) released its Q3 earnings result with a non-GAAP EPS of $0.30, which beat the analysts’ estimates by $0.40. The revenue of the quarter was $1.18 billion and topped the estimates by $30 million.

ClearBridge Investments talked about EQT Corporation (NYSE:EQT) in its second-quarter investor letter. Here is what it said:

“The energy sector was another positive contributor, primarily driven by our investment in EQT Corporation (NYSE:EQT). As North America’s leading natural gas provider, EQT had seen its share price slide as the lackluster reopening of China and a milder-than-expected winter in the northern hemisphere weighed on natural gas prices. However, as recessionary fears have given way to optimism and the prospect for greater energy demand, EQT’s share price has rebounded. While we continue to expect volatility in commodities prices, we believe that global energy demand, especially in Europe, along with the company’s leadership position in the natural gas market, make it a strong long-term compounder for the portfolio.”