5 Energy Stocks to Buy According to Billionaire David Harding

In this article, we will look at the five energy stocks to buy according to billionaire David Harding. If you want to learn more about the hedge fund and discover more stocks, head on over to 10 Energy Stocks to Buy According to Billionaire David Harding.

5. FirstEnergy Corp. (NYSE:FE)

Winton Capital’s Stake Value: $5.8 million

Percentage of Winton Capital’s 13F Portfolio: 0.3%

Number of Hedge Fund Holders: 42

FirstEnergy Corp. (NYSE:FE) is an American electricity transmitter and generator that is headquartered in Akron, Ohio. The firm owns electricity generation facilities that utilize coal, renewable, and other sources and it transmits this electricity to close to six million customers.

Winton Capital owned a $5.8 million stake in FirstEnergy Corp. (NYSE:FE) as part of its Q2 2022 portfolio. This came through the hedge fund holding 151,533 shares of the energy company. For the same time period, 42 out of the 895 hedge funds polled by Insider Monkey had invested in the firm.

FirstEnergy Corp. (NYSE:FE) has been growing profitability over the course of the past five years, as it reversed a loss of $289 million in 2017 to a profit of $1.24 billion last year. Its revenue of $2.82 billion for this year’s first half also grew over the same time period last year. Morgan Stanley kept a $53 share price target for FirstEnergy Corp. (NYSE:FE) in September 2022, citing optimism about recent management changes.

FirstEnergy Corp. (NYSE:FE)’s largest investor in our database is Carl Icahn’s Icahn Capital LP which owns 18 million shares that are worth $728 million.