5 Best Utility Dividend Stocks To Buy

4. Duke Energy Corporation (NYSE:DUK)

Number of Hedge Fund Holders: 40

Duke Energy Corporation (NYSE:DUK) is next on our list of the best dividend stocks from the utility sector. The electric power and natural gas holding company has been paying regular dividends to shareholders for the past 97 years and it also maintained a 16-year streak of dividend growth. Its quarterly dividend comes in at $1.005 per share for a dividend yield of 4.37%, as of June 20.

In June, Goldman Sachs initiated its coverage of Duke Energy Corporation (NYSE:DUK) with a Neutral rating and a $99 price target, giving a positive outlook on the utility sector.

Duke Energy Corporation (NYSE:DUK) was a popular buy among elite funds in Q1 2023, as 40 hedge funds tracked by Insider Monkey owned stakes in the company, up from 33 in the previous quarter. Their total stake value is over $571.7 million. With over 1.7 million shares, Citadel Investment Group was the company’s leading stakeholder in Q1.

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