5 Best Energy Dividend Stocks To Buy Now

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1. Chevron Corporation (NYSE:CVX)

Dividend Yield: 4.16%

Number of Hedge Fund Holders: 103

Chevron Corporation (NYSE:CVX) is one of the best energy dividend stocks to buy now.

On June 22, Chevron Corp (NYSE:CVX) entered into a strategic partnership with Microsoft to develop a co-located facility. The facility is to provide natural gas-fired power for the software giant’s data center in Texas. The Co-located facility, dubbed Project Kilby, is to provide dedicated electricity to Microsoft’s data center campus for 20 years.

The campus is poised to expand Microsoft’s data center capacity by 2 gigawatts, supporting over 6,000 construction jobs and hundreds of permanent operational roles. The power supply facility should be up and running by 2028 and ramp up to 2.67 gigawatts over time.

While Chevron is poised to announce its final investment decision on the project before year’s end, last year it confirmed it is partnering with investment firm Engine No 1 and electric services company GE Vernova on the project.

Chevron Corporation (NYSE:CVX) is one of the world’s largest integrated energy companies, operating across every phase of the oil, natural gas, and alternative energy industries.

While we acknowledge the potential of CVX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CVX and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 8 Mining Stocks with the Highest Dividends and 10 UK Stocks with the Highest Dividends.

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