5 Best Electric Utility Stocks To Buy Now

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In this article, we discuss 5 best electric utility stocks to buy now. If you want to see more stocks in this selection, check out 10 Best Electric Utility Stocks To Buy Now

5. DTE Energy Company (NYSE:DTE)

Number of Hedge Fund Holders: 34

DTE Energy Company (NYSE:DTE) is involved in utility operations. Its Electric segment is responsible for producing, purchasing, distributing, and selling electricity to over 2.3 million customers in southeastern Michigan. The electricity is generated using a variety of sources, including fossil fuels, hydroelectric pumped storage, nuclear plants, and wind and solar assets. It is one of the best electric utility stocks to watch. DTE Energy Company (NYSE:DTE) paid a $0.9525 per share quarterly dividend to shareholders on April 15. 

On April 10, BMO Capital’s analyst James Thalacker increased the price target for DTE Energy Company (NYSE:DTE) to $124 from $123, while maintaining a Market Perform rating. The firm has lowered its Q1 EPS estimate by 70c to $1.24 due to the impact of severe storms, mild weather, and a lower EM&T contribution. However, the change in the price target is due to the updated view of mark-to-market in group peer multiples, the analyst wrote in a research note. 

According to Insider Monkey’s fourth quarter database, 34 hedge funds were long DTE Energy Company (NYSE:DTE), compared to 30 funds in the last quarter. Ken Griffin’s Citadel Investment Group is the biggest position holder in the company, with 1.7 million shares worth approximately $202 million. 

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