5 Best Stocks Under $50

1. FirstEnergy Corp. (NYSE:FE)

Share Price as of October 21: $36.41

Number of Hedge Fund Holders: 42

FirstEnergy Corp. (NYSE:FE) is a leading diversified utility company with operations in the Midwest and Mid-Atlantic regions of the United States. The company has a long history of paying dividends and is currently offering a forward dividend yield of 4.4%, as of October 21, and is also trading at a PE multiple of 15x. FirstEnergy Corp. (NYSE:FE) is one of the best undervalued and dividend-paying stocks to buy now.

This September, Morgan Stanley analyst Stephen Byrd reiterated an Overweight rating and his $53 price target on FirstEnergy Corp. (NYSE:FE).

At the end of Q2 2022, 42 hedge funds disclosed ownership of stakes in FirstEnergy Corp. (NYSE:FE). The total value of these stakes amounted to $1.78 billion. This is compared to 33 positions in the preceding quarter with stakes worth $1.88 billion. As of June 30, Icahn Capital LP is the largest investor in FirstEnergy Corp. (NYSE:FE) and has stakes worth $728 million.

You can also take a look at 10 Best Counter Cyclical Stocks To Buy and 12 Best Emerging Stocks To Buy Now.

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