5 Dividend Stocks to Buy According to Billionaire Paul Tudor Jones’ Tudor Investment Corp

4. FirstEnergy Corp. (NYSE:FE)

Number of Hedge Fund Holders: 42
Dividend Yield as of September 8: 3.80%

FirstEnergy Corp. (NYSE:FE) is an American electric services company that specializes in the distribution and generation of electricity. In July, Barclays raised its price targets on North America’s power and utility sector, and in this view, it reiterated an Equal Weight rating on FE.

Tudor Investments initiated its position in FirstEnergy Corp. (NYSE:FE) during the fourth quarter of 2010 with shares worth $503,000. During Q2 2022, the hedge fund purchased additional stakes worth over $10 million in the company, increasing its position by 462%. The fund’s total FE stake amounted to roughly $13 million in Q2, which represented 0.33% of its 13F portfolio.

On July 19, FirstEnergy Corp. (NYSE:FE) declared a quarterly dividend of $0.39 per share, in line with its previous dividend. The company has not raised its payouts since 2019 in recognition of the pandemic but has maintained its distribution during these years. The current dividend yield for the stock, as of September 8, is 3.80%.

FirstEnergy Corp. (NYSE:FE) was a popular buy among hedge funds in Q2 2022 according to Insider Monkey’s data. 42 hedge funds owned stakes in the company in Q2, growing from 33 in the previous quarter. The stakes owned by these hedge funds hold a collective value of over $1.78 billion.

ClearBridge Investments mentioned FirstEnergy Corp. (NYSE:FE) in its Q4 2021 investor letter. Here is what the firm has to say:

“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.”