5 Best Stocks to Buy According to Billionaire Carl Icahn

4. FirstEnergy Corp. (NYSE:FE)

Icahn Capital’s Stake Value: $869,861,000

Percentage of Icahn Capital’s 13F Portfolio: 3.97%

Number of Hedge Fund Holders: 33

FirstEnergy Corp. (NYSE:FE) generates, transmits, and distributes electricity in the United States. The company owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities. As of March 31, Icahn Capital’s stakes in FirstEnergy Corp. (NYSE:FE) are valued at $869.86 million, which covers 3.97% of its investment portfolio. FirstEnergy Corp. (NYSE:FE) is among the best stocks to buy according to billionaire Carl Icahn.

This April, Credit Suisse analyst Nicholas Campanella initiated coverage of FirstEnergy Corp (NYSE:FE) with an Outperform rating and a $51 price target.

Insider Monkey spotted FirstEnergy Corp. (NYSE:FE) on 33 hedge fund portfolios at the end of the first quarter of 2022. The total stakes of these hedge funds were valued at $1.88 billion, up from $1.75 billion in the previous quarter with 40 positions. The hedge fund sentiment for this stock is positive.

ClearBridge Investments, an investment management firm, mentioned FirstEnergy Corp. (NYSE:FE) in its “Global Infrastructure Income Strategy” fourth-quarter 2021 investor letter. Here is what the firm said:

“On a regional level, the Strategy’s largest exposure is in the U.S. and Canada (44%), consisting of regulated and contracted utilities (31%) and economically sensitive user-pays infrastructure (13%).
During the quarter we initiated new positions in U.S. electric utility FirstEnergy.  With supply chain issues, higher housing costs, higher commodity prices and producer price inflation remaining square in the sights for 2022, we think higher inflation is a risk for global markets. We expect growth to slow to trend or below by mid-2022 and U.S.”