14 Best Utility Dividend Stocks to Buy Now

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12. Duke Energy Corporation (NYSE:DUK)

Dividend Yield as of Nov. 21: 3.47%

Duke Energy Corporation (NYSE:DUK) engages in the distribution of natural gas and energy-related services. The company owns and operates a diverse mix of regulated power plants, including hydro, coal, nuclear, natural gas, solar, and battery storage.

On November 20, Morgan Stanley analyst David Arcaro trimmed the firm’s price target on Duke Energy Corporation (NYSE:DUK) from $136 to $133, while maintaining an ‘Equal Weight’ rating on its shares, as reported by The Fly. The adjustment comes on the back of the firm updating its price targets for the overall Regulated & Diversified Utilities / IPPs in North America under its coverage. Moreover, the analyst noted that the utilities sector underperformed the wider market in October.

In other news, Duke Energy Corporation (NYSE:DUK) revealed this week that it is asking North Carolina regulators to approve a hike of around 15% in its rates over the next two years, which would see its residential customers paying an additional $20 to $30 per month by 2028. The utility has also requested regulators to increase rates for commercial and industrial customers, but those hikes will be relatively smaller in comparison. The development comes as Duke looks to propose new investments in North Carolina to boost reliability and keep up with the rising demand.

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