5 Best Regulated Electric Stocks to Buy According to Hedge Funds

4. Xcel Energy Inc. (NASDAQ:XEL)

Xcel Energy Inc. (NASDAQ:XEL) is one of the 10 best regulated electric stocks to buy according to hedge funds.

On February 26, Xcel Energy Inc. (NASDAQ:XEL) announced that its board has approved an increase in quarterly dividend on the company’s common stock to 59.25c per share from 57c previously, bringing the annual payout to $2.37 per share. The dividend will be payable on April 20 to shareholders of record as of March 13. Commenting on the announcement, Chairman, President, and CEO Bob Frenzel stated:

“Xcel Energy Inc. (NASDAQ:XEL) is rewarding its shareholders with higher dividends for the twenty third consecutive year. It was made possible by our more than 11,000 employees striving daily to make energy work better for our customers, and reflects confidence in our long-term growth strategy and financial strength. We are committed to providing predictable and sustainable dividend growth, continuing to target annual dividend increases of 4-6 percent and a payout ratio of 45-55 percent.”

Back on February 24, Xcel Energy Inc. (NASDAQ:XEL) announced its plan to power a new data centre for Google (GOOGL) located in Pine Island, Minnesota. According to the company, the project and the Electric Service Agreement associated with it are anticipated to produce a significant positive impact for the state, coupled with a significant expansion of clean energy developments to support Minnesota’s energy aspirations. According to the company, the growth initiative includes provisions to ensure the benefits of the program for its existing customers.

Xcel Energy Inc. (NASDAQ:XEL) operates as a major utility, managing the generation, transmission, and distribution of electricity and natural gas. Their business model centers on regulated delivery services while driving a strategic shift toward a carbon-free energy portfolio. They provide essential power solutions to millions of residential, commercial, and industrial customers.