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.
4. Southwestern Energy Company (NYSE:SWN)
Winton Capital’s Stake Value: $5.9 million
Percentage of Winton Capital’s 13F Portfolio: 0.31%
Number of Hedge Fund Holders: 47
Southwestern Energy Company (NYSE:SWN) is an oil, natural gas, and natural gas liquid explorer in the United States. The company has exploration sites in several U.S. states and access to billions of cubic feet of natural gas reserves. It is headquartered in Spring, Texas.
Southwestern Energy Company (NYSE:SWN)’s share price has grown by a strong 29% year to date, in stark comparison to indexes such as the New York Stock Exchange which has seen its value drop by an eye watering 21%. Its latest quarter saw the firm bring in $4 billion in revenue. Citi raised the company’s share price target to $10 from $8 in September 2022, stating that the firm will benefit from a strong operating environment in the coming quarters.
Mr. Harding’s hedge fund held a $5.9 million stake in Southwestern Energy Company (NYSE:SWN) as part of its investment portfolio for this year’s June quarter. Insider Monkey’s Q2 2022 survey of 895 funds saw 47 as having invested in the company.
Jim Simons’s Renaissance Technologies is Southwestern Energy Company (NYSE:SWN)’s largest investor. It owns 33 million shares that are worth $210 million.
3. Exxon Mobil Corporation (NYSE:XOM)
Winton Capital’s Stake Value: $6.5 million
Percentage of Winton Capital’s 13F Portfolio: 0.34%
Number of Hedge Fund Holders: 72
Exxon Mobil Corporation (NYSE:XOM) is one of the world’s largest oil and gas companies, and it operates more than 20,000 wells all over the globe. Exxon Mobil Corporation (NYSE:XOM) is headquartered in Irving, Texas, the United States.
Winton Capital’s Q2 2022 investment portfolio revealed that the firm had held 76,613 Exxon Mobil Corporation (NYSE:XOM) shares. These were worth $6.5 million and they represented 0.34% of its investment portfolio. For the same time period, 72 out of the 895 hedge funds had also bought Exxon Mobil Corporation (NYSE:XOM)’s shares.
Exxon Mobil Corporation (NYSE:XOM) has heavily invested in its future. These investments can insulate the firm from fears of a downturn in oil prices. It aims to grow its production capacity from its Guyana site to 1 billion barrels per day by 2026, and its Payara facility is expected to come online next year.
Exxon Mobil Corporation (NYSE:XOM)’s largest investor in our database is Rajiv Jain’s GQG Partners which owns 47 million shares that are worth $4 billion.
2. Evergy, Inc. (NYSE:EVRG)
Winton Capital’s Stake Value: $7 million
Percentage of Winton Capital’s 13F Portfolio: 0.37%
Number of Hedge Fund Holders: 22
Evergy, Inc. (NYSE:EVRG) is an electricity generator and distributor in the U.S. The company supplies electricity to customers in Kansas and Missouri, and it has close to 1.6 million customers. It is headquartered in Kansas City, Missouri.
Evergy, Inc. (NYSE:EVRG) has a strong emissions free power generation portfolio, which sees it generate 56% of its electricity from non carbon sources such as uranium. The firm has beat analyst EPS estimates for the past six quarters and it aims to add another 3,500 megawatts of renewable energy to its portfolio by 2032.
Winton Capital’s Q2 2022 stake in Evergy, Inc. (NYSE:EVRG) was worth $7 million and it came through the firm owning 108,239 million shares of the company. Insider Monkey took a look at 895 hedge fund portfolios for this year’s June quarter to discover that 22 had also held a stake in the company.
Out of these, Evergy, Inc. (NYSE:EVRG)’s largest investor is Ken Griffin’s Citadel Investment Group which owns 1.6 million shares that are worth $104 million.
1. Constellation Energy Corporation (NASDAQ:CEG)
Winton Capital’s Stake Value: $10.9 million
Percentage of Winton Capital’s 13F Portfolio: 0.57%
Number of Hedge Fund Holders: 43
Constellation Energy Corporation (NASDAQ:CEG) is another American electricity company. The firm generates and sells electricity in several American regions and its portfolio has more than 32,000 megawatts of power capacity. Constellation Energy Corporation (NASDAQ:CEG) is headquartered in Baltimore, Maryland.
Mr. Harding’s hedge fund owned 190,602 Constellation Energy Corporation (NASDAQ:CEG) shares during this year’s second quarter, for a $10.9 million stake that represented 0.57% of the firm’s portfolio. Insider Monkey’s Q2 2022 survey of 895 hedge funds saw 43 investors in the company.
Constellation Energy Corporation (NASDAQ:CEG)’s shares have rallied by an outstanding 98% this year, which has undoubtedly made Mr. Harding quite happy – especially since the firm is his largest energy holding. In a major development, the firm announced in September 2022 that its nuclear plants ran at 100% capacity this summer and did not experience any supply constraints. Morgan Stanley increased the company’s share price target to $95 from $64 in August 2022, stating that the company’s operating income is not risky.
Constellation Energy Corporation (NASDAQ:CEG)’s largest investor is John Smith Clark’s Southpoint Capital Advisors which owns 3 million shares that are worth $171 million.
Disclosure: None. You can also take a look at Best Delivery Stocks To Buy and 11 Best Pharma and Biotech Stocks to Buy.
