8. FirstEnergy Corp. (NYSE: FE)
Hedge Funds: 58
Total Hedge Fund Holdings: 1.28 billion
Dividend Yield: 5.13%
Price (at the time of writing): $30.38
FirstEnergy’s ten companies make up one of the larges investor-owned utilities in the US, serving over six million customers. reported third quarter 2020 GAAP earnings of $454 million, or $0.84 per basic and diluted share of common stock, on revenue of $3 billion.
This year has been good for FE’s performance in terms of hedge fund investments. It was at its all time high number of bullish hedge fund positions (59) in the end of September, the previous all time high number on our record is 44. This means the company is still experiencing increased investor interest.
7. Cisco Systems, Inc. (NASDAQ: CSCO)
Hedge Funds: 59
Total Hedge Fund Holdings: $3.93 billion
Dividend Yield: 3.25%
Price (at the time of writing): $44.32
Tech giant Cisco just announced its fiscal year results for 2020 with a revenue of $49.3 billion (decrease of 5% year over year). Over half of the company’s revenue this year was from software and services even though Cisco is known as a hardware provider. The FY results outline GAAP earnings per share at $2.64 and non-GAAP at $3.21. The former with a 1% year over year increase and the latter – 4%.
Brown Advisory briefly talked about Cisco in its Q2 investor letter:
“Networking equipment provider Cisco Systems gained after reporting solid quarterly results amid a challenging economic environment. The company’s security and video conferencing products are in greater demand due to the ongoing work-from-home trend, suggesting an improved business growth outlook for the remainder of the year.”
6. Altice USA Inc (NYSE: ATUS)
Hedge Funds: 62
Total Hedge Fund Holdings: $3.52 billion
Dividend Yield: 5.83%
Price (at the time of writing): $34.90
Altice USA is a cable provider that serves close to 5 million customers in 21 states. It has been seeing increased investor interest in this quarter and the year as a whole. Currently ATUS is featured on 62 hedge fund investor portfolios while the highest number we have in our data is 57. This means ATUS is currently at an all time high in hedge fund investor interest.
In Q3, Altice USA announced mainly flat (after adjustment) earnings year-over-year. However, there were positive tendencies in their reported results driven by broadband revenue growth of 15.6% year over year.
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Disclosure: No positions. 10 Best Dividend Paying Stocks To Buy Under $50 is originally published at Insider Monkey. The previous version of this article included General Motors by mistake as GM suspended its dividend payments.
