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Extreme Weather Conditions Impacted EQT Corporation (EQT)’s Production in Q4

Artisan Partners, an investment management company, released its “Artisan Global Equity Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, its Investor Class fund ARTHX returned 15.95%, Advisor Class fund APDHX posted a return of 15.98%, and Institutional Class fund APHHX returned 16.04%, compared to a return of 9.76% for the MSCI All Country World Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Artisan Global Equity Fund highlighted stocks like EQT Corporation (NYSE:EQT) in the Q4 2022 investor letter. Headquartered in Pittsburgh, Pennsylvania, EQT Corporation (NYSE:EQT) is a natural gas production company. On March 16, 2023, EQT Corporation (NYSE:EQT) stock closed at $30.12 per share. One-month return of EQT Corporation (NYSE:EQT) was -3.62%, and its shares gained 11.06% of their value over the last 52 weeks. EQT Corporation (NYSE:EQT) has a market capitalization of $10.854 billion.

Artisan Global Equity Fund made the following comment about EQT Corporation (NYSE:EQT) in its Q4 2022 investor letter:

"Finally, shares of US natural gas producer EQT Corporation (NYSE:EQT) fell on lower-than-expected production due to extreme weather in December. However, the company still produced strong free cash flow that beat expectations. EQT is one of the largest producers of natural gas, an energy source that emits significantly less carbon dioxide than other fossil fuels, such as coal or oil. We sold the position, as it had reached its target valuation."

Photo by Max Bender on Unsplash

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EQT Corporation (NYSE:EQT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 56 hedge fund portfolios held EQT Corporation (NYSE:EQT) at the end of the fourth quarter which was 57 in the previous quarter.

We discussed EQT Corporation (NYSE:EQT) in another article and shared the list of best falling stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.