5 Best Blue Chip Dividend Stocks to Buy

4. NextEra Energy, Inc. (NYSE:NEE)

Dividend Yield as of November 21: 2.04%

NextEra Energy, Inc. (NYSE:NEE) is one of America’s largest electric utility holding companies. The company provides renewable energy services to its consumers in the US and Canada. Recently, the company announced to build the first landfill renewable natural gas production facility in Alabama. This project will capture over 16.5K metric tons per year of landfill methane for beneficial use.

In October, Guggenheim maintained a Buy rating on NextEra Energy, Inc. (NYSE:NEE) with a $99 price target, presenting a positive stance on the Power and Utility group due to higher interest rates.

NextEra Energy, Inc. (NYSE:NEE) currently pays a quarterly dividend of $0.425 per share. Earlier this year, the company raised its dividend for the 26th consecutive year, which places it as one of the best dividend stocks on our list. As of November 21, the stock has a dividend yield of 2.04%.

The number of hedge funds tracked by Insider Monkey owning stakes in NextEra Energy, Inc. (NYSE:NEE) stood at 21 in Q3 2022, up from 17 in the previous quarter. These stakes are collectively worth nearly $250 million.

ClearBridge Investments mentioned NextEra Energy, Inc. (NYSE:NEE) in its recently-published Q2 2022 investor letter. Here is what the firm has to say:

“We increased our exposure to the energy transition during the quarter with new positions in Iberdrola (OTCPK:IBDSF), a Spanish-based integrated utility that is also one of the leading renewable energy developers in the world, and NextEra Energy, Inc. (NYSE:NEE), an integrated utility business with a regulated utility operating in Florida and the largest wind business in the U.S. The war has opened the eyes of the world and energy independence is critical. Renewables are for many countries the only way to get to the target. It is expected that existing renewable project pipelines will be executed faster, and more projects added to existing pipelines.

The energy transition would be extremely helpful for climate change and Iberdrola ranks well on our ESG matrix. NextEra, meanwhile, recently raised future earnings forecasts, citing a very favorable macro environment for rapid renewable generation expansion driven by decarbonization of the U.S. economy and the relative attractiveness of renewable generation in the context of high natural gas and power prices.”