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Billionaires Love These Utilities Stocks

8 funds run by billionaires held stakes in Eversource Energy (­NYSE:ES) at the end of September. While the number from our system, increased from 6 in the earlier quarter, the aggregate value of their holdings almost doubled during the September-June period. Millennium Management run by Israel Englander was amongst the top buyers of Eversource Energy (NYSE:ES) during the third quarter. The fund bought more than 1.45 million shares of this company. Formerly known as Northeast Utilities, the company with a market capitalization value of more than $17 billion has a dividend yield of 3.3%. Recently the company finalized the sale of its 50% equity interest in the Elwood Energy Facility to its partner J-Power USA Development Co. Ltd. There was an increase in the number of hedge funds that we track having Eversource Energy (NYSE:ES) in their portfolios by 4, to 20 at the end of the third quarter.

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A total of 6 funds managed or launched by billionaire investors reported stakes in American Electric Power Company Inc (NYSE:AEP) as per their latest 13F filings, including D. E. Shaw, and Steve Cohen’s Point72 Asset Management. Overall, these funds held $980 million worth of the company’s stock. American Electric Power Company Inc (NYSE:AEP) sports a dividend yield of 3.88% and the stock is rated as overweight by most of the analysts following it. Though the number of hedge funds holding American Electric Power Company Inc (NYSE:AEP) inched up to 32 during the third quarter, from 27 in the quarter earlier, the value of their holdings declined to $1.27 million from $1.36 million quarter over quarter.

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For the quarter ended September 30, Exelon Corporation (NYSE:EXC) holdings amongst billionaires’ funds increased slightly to 6 from 5 in the earlier quarter. D.E Shaw bought 1.377 million shares of the company, making it the fifth largest buyer of Exelon Corporation (NYSE:EXC) during the third quarter. The stock has returned more than 20% in the last one year and has an attractive dividend yield of 3.81%. The public utilities company reported revenues of $9 billion for its most recent quarter ending September up from $6.9 billion reported in the earlier quarter. Exelon Corporation (NYSE:EXC) carries a mean rating of overweight from 23 analysts covering the stock. Amongst the funds that we track, Exelon Corporation (NYSE:EXC) was present in the top ten holdings of Scoria Capital Partners, Stevens Capital Management and Lomas Capital Management as per their latest 13F filings. In all 25 funds held shares worth $781 million in this stock at the end of quarter three.

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Disclosure: None

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