In this article, we discuss the top 5 stock picks of Matthew Davis’ Coann Capital. If you want our detailed analysis of these stocks, go directly to Matthew Davis’ Coann Capital Portfolio: Top 10 Stock Picks.
5. The Southern Company (NYSE:SO)
Coann Capital’s Stake Value: $7,964,000
Percentage of Coann Capital’s 13F Portfolio: 7.68%
Number of Hedge Fund Holders: 37
Coann Capital owns 128,520 shares in The Southern Company (NYSE:SO) as of September this year, valued at $7.96 million, representing 7.68% of the firm’s stock portfolio. The Southern Company (NYSE:SO) is an Atlanta-based electric and gas utility company that serves customers across the Southern region of the US. Via its multiple subsidiaries, The Southern Company (NYSE:SO) accommodates the electricity and gas needs of almost 9 million customers across 6 states.
The Southern Company (NYSE:SO) on November 4 posted its Q3 results. EPS for the period totaled $1.23, beating estimates by $0.01. Q3 Revenue at The Southern Company (NYSE:SO) equaled $6.24 billion, exceeding estimated revenue by $91.44 million.
Insider Monkey tracks the hedge fund sentiment of 873 funds as of June this year. 37 hedge funds were bullish on The Southern Company (NYSE:SO), with stakes worth $606.4 million. This is compared to 35 funds in the preceding quarter, reporting stakes valued at $464 million.
4. Public Service Enterprise Group Incorporated (NYSE:PEG)
Coann Capital’s Stake Value: $8,134,000
Percentage of Coann Capital’s 13F Portfolio: 7.84%
Number of Hedge Fund Holders: 26
Public Service Enterprise Group Incorporated (NYSE:PEG) is an investor-owned utility company from New Jersey, offering electricity and gas to customers since 1928. Matthew Davis’ Coann Capital holds 133,557 shares in Public Service Enterprise Group Incorporated (NYSE:PEG), worth $8.1 million, representing 7.84% of the firm’s portfolio as of September this year.
As of the second quarter of 2021, 26 hedge funds were long Public Service Enterprise Group Incorporated (NYSE:PEG), up from 24 in the preceding quarter.
Public Service Enterprise Group Incorporated (NYSE:PEG) on November 2 reported a Q3 EPS of $0.98, beating estimates by $0.06. Revenue for the quarter totaled $1.90 billion, exceeding estimated revenue by -$947.01 million.
On October 11, Mizuho analyst Paul Fremont kept a Buy rating on the Public Service Enterprise Group Incorporated (NYSE:PEG) stock, raising the price target from $66 to $67.
3. DTE Energy Company (NYSE:DTE)
Coann Capital’s Stake Value: $8,494,000
Percentage of Coann Capital’s 13F Portfolio: 8.19%
Number of Hedge Fund Holders: 32
DTE Energy Company (NYSE:DTE) is a top stock pick of Matthew Davis, with Coann Capital owning 76,032 shares in the company, representing 8.19% of the firm’s Q3 portfolio. DTE Energy Company (NYSE:DTE) is an energy company from Detroit serving customers across the United States and Canada. DTE Energy Company (NYSE:DTE) specializes in renewable energy including wind, solar and hydroelectric, as well as power generation via natural gas, nuclear, and coal.
DTE Energy Company (NYSE:DTE) reported Q3 results on October 27. EPS in the period totaled $1.72, missing estimates by -$0.09. Revenue for the third quarter came in at $3.71, exceeding estimates by $370.19 million.
As of Q2, 32 hedge funds reported owning stakes in DTE Energy Company (NYSE:DTE), up from 26 in the previous quarter.
2. Xcel Energy Inc. (NASDAQ:XEL)
Coann Capital’s Stake Value: $9,319,000
Percentage of Coann Capital’s 13F Portfolio: 8.98%
Number of Hedge Fund Holders: 22
Xcel Energy Inc. (NASDAQ:XEL) is a utility holding company from Minnesota, offering electric, steam, and natural gas services to millions of customers across Minnesota, Dakota, Michigan, Wisconsin, and Texas, among others. Xcel Energy Inc. (NASDAQ:XEL) is aiming to reduce its carbon emissions and has set a goal to provide clean energy by 2050. Coann Capital owns 149,106 shares in Xcel Energy Inc. (NASDAQ:XEL), as of September this year, which accounts for 8.98% of the firm’s investment portfolio.
Xcel Energy Inc. (NASDAQ:XEL) announced Q3 results on October 28. EPS in the period totaled $1.13, missing estimates by -$0.04. Revenue for the quarter equaled $3.47 billion, beating estimated revenue by $55.82 million.
As of the second quarter, 22 hedge funds were long Xcel Energy Inc. (NASDAQ:XEL), up from 18 in the preceding quarter.
According to a report published by Mizuho on November 2, Paul Fremont kept a Neutral rating on Xcel Energy Inc. (NASDAQ:XEL) stock, lowering the price target from $70 to $64. The price target was reduced to cater to the present market multiples.
1. Essential Utilities, Inc. (NYSE:WTRG)
Coann Capital’s Stake Value: $9,323,000
Percentage of Coann Capital’s 13F Portfolio: 8.99%
Number of Hedge Fund Holders: 13
Essential Utilities, Inc. (NYSE:WTRG) is the largest holding in Matthew Davis’ Coann Capital’s Q3 portfolio, with the investment firm holding 202,313 shares in Essential Utilities, Inc. (NYSE:WTRG), worth $9.32 million, representing 8.99% of Davis’ stock portfolio as of September this year. Essential Utilities, Inc. (NYSE:WTRG) is a drinking water and wastewater treatment company, offering services and infrastructure to treat water, making it consumable for people.
On November 1, the Q3 EPS for Essential Utilities, Inc. (NYSE:WTRG) came in at $0.19, missing estimates by -$0.02. Revenue for the quarter missed estimates by -$5.09 million, at $361.86 million.
At the end of June, 13 hedge funds tracked by Insider Monkey were bullish on Essential Utilities, Inc. (NYSE:WTRG), with stakes worth $272 million.
You can also take a look at 10 Growth Stocks to Buy According to Jay Chen’s Himension Capital and Top 10 Stock Picks of Anand Desai’s Darsana Capital Partners.
