5 Biggest Electrical Companies in the USA

4. FirstEnergy Corp. (NYSE:FE)

Number of Hedge Fund Holders: 41

FirstEnergy Corp. (NYSE:FE) is an Ohio-based electric-utility company that serves 6 million customers across Ohio, Pennsylvania, West Virginia, Virginia, Maryland, New Jersey, and New York. 

On November 1, The New Jersey Board of Public Utilities announced that FirstEnergy Corp. (NYSE:FE) has been awarded the contract to direct clean energy created by the state’s offshore wind farms to the power grid. The company’s subsidiary Jersey Central Power & Light was awarded $723 million for the construction of new transmission infrastructure and for the upgradation of the existing one. This project allows FirstEnergy Corp. (NYSE:FE) to acquire around 20% stake in Mid-Atlantic Offshore Development.

As of November 21, FirstEnergy Corp. (NYSE:FE) has a dividend yield of 4.04% and a 62% payout ratio. The latest quarterly dividend amounts to $0.39 which is payable by December  1 to the shareholders of record on November 7.

Here is what ClearBridge Investments had to say about FirstEnergy Corp. (NYSE:FE) in its Q4 2021 investor letter:

“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.”