5 Best Dividend Stocks to Invest In According to Jim Simons’ Renaissance Technologies

2. National Grid plc (NYSE:NGG)

Dividend Yield: 3.91%

Number of Hedge Fund Holders: 30

Renaissance Technologies Equity Stake: $183.48 Million

National Grid plc (NYSE:NGG) is one of the best dividend stocks to invest in, according to Jim Simons’ Renaissance Technologies. On July 1, National Grid plc (NYSE:NGG) confirmed it will invest $1.75 billion for a 35% stake in Joulent, a U.S. energy platform developing power infrastructure.

The investment underscores the company’s push to capitalize on growing demand for power in the US amid the AI boom. The $1.75 billion investment is to fund Joulent’s first project, a 2.67-gigawatt gas-fired ​facility in West Texas. The facility is to generate power and supply it to a Microsoft-operated data center campus under a 20-year power purchase agreement.

According to National Grid, the $1.75 billion investment is incremental to a five-year capital investment program of at least £70 billion ​through fiscal year 2031. The company has entered into strategic partnerships as it moves to strengthen its existing data center connectivity program. It plans to connect more than 10 gigawatts across the UK and the United States over the next five years.

National Grid plc (NYSE:NGG) is a top dividend stock in Jim Simons’ Renaissance Technologies with a 3.91% dividend yield.

National Grid plc (NYSE:NGG) is a major multinational utility company that owns and operates vital electricity and natural gas transmission and distribution networks across the United Kingdom and the Northeastern United States. It serves as the backbone of the energy infrastructure, moving electricity from power generators to local distribution networks and to millions of end users.