Top 5 Dividend Stocks Favored by Carolina Panthers Owner David Tepper

1. Constellation Energy Corporation (NASDAQ:CEG)

Appaloosa Management LP’s Stake Value: $206,794,427
Dividend Yield as of February 23: 1.45%

Constellation Energy Corporation (NASDAQ:CEG) is the largest holding of Appaloosa Management LP in the fourth quarter of 2022. The hedge fund owned roughly 2.4 million shares in the company, worth over $206.7 million. The company represented 15.33% of the firm’s 13F portfolio.

Constellation Energy Corporation (NASDAQ:CEG), one of the top dividend stocks favored by David Tepper, started paying dividends to shareholders in February 2022. It currently offers a quarterly dividend of $0.141 per share and has a dividend yield of 1.45%, as recorded on February 23.

As of the close of Q4 2022, Constellation Energy Corporation (NASDAQ:CEG) was a part of 51 hedge fund portfolios, according to Insider Monkey’s data. The stakes owned by these hedge funds have a value of over $2.43 billion.

Alger Capital mentioned Constellation Energy Corporation (NASDAQ:CEG) in its Q3 2022 investor letter. Here is what the firm has to say:

“Constellation Energy Corporation (NASDAQ:CEG) is America’s leading clean energy company, based on carbon-free production. The company is the largest supplier of clean energy and sustainable solutions to homes, businesses, governments, community aggregations, and a range of wholesale customers (such as municipalities, cooperatives, and other end markets) across the continental U.S., backed by approximately 32,400 megawatts of generating capacity consisting of nuclear, wind, solar, natural gas and hydroelectric assets. Constellation produces nearly 10% of the nation’s carbon-free energy.

Shares outperformed during the third quarter primarily due to the Inflation Reduction Act (IRA). Signed into law in august, the bill provides a nuclear production tax credit of approximately $43.75 per megawatt hour of energy generated. This credit favorably impacted earnings, resulting in an increase in Constellation’s share price.”

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