5 Best Utility Dividend Stocks To Buy

In this article, we discuss 5 best utility dividend stocks to buy. If you want to see more stocks in this selection, click 10 Best Utility Dividend Stocks To Buy. 

5. Dominion Energy, Inc. (NYSE:D)

Number of Hedge Fund Holders: 30

Dividend Yield as of October 28: 3.85%

Dominion Energy, Inc. (NYSE:D) is headquartered in Richmond, Virginia, and the company produces and distributes regulated electricity and natural gas to residential, commercial, industrial, and government customers in Virginia and North Carolina. On October 17, Dominion Energy, Inc. (NYSE:D) filed a proposal with the Virginia State Corporation Commission for approximately 24 new solar and energy storage projects for Virginia customers, which would offer over 800 MW of carbon-free electricity. 

Guggenheim analyst Shahriar Pourreza on October 24 maintained a Buy recommendation on Dominion Energy, Inc. (NYSE:D) but trimmed the price target on the shares to $75 from $90. The analyst reduced the baseline utility valuation, primarily supported by a sharp rise in interest rates and forward yield expectations.

According to the second quarter database of Insider Monkey, 30 hedge funds were long Dominion Energy, Inc. (NYSE:D), compared to 34 funds in the preceding quarter. Ric Dillon’s Diamond Hill Capital is the largest position holder in the company, with 3.3 million shares worth $262.85 million.