5 Best Utility Dividend Stocks To Buy

2. Constellation Energy Corporation (NASDAQ:CEG)

Number of Hedge Fund Holders: 53

Constellation Energy Corporation (NASDAQ:CEG) provides electric power, natural gas, and energy management services. The company currently pays a quarterly dividend of $0.282 per share, having raised it by 100% in February this year. With a dividend yield of 1.21%, CEG is one of the best dividend stocks on our list.

In June, Wells Fargo raised its price target on Constellation Energy Corporation (NASDAQ:CEG) to $120 and maintained an Overweight rating on the shares. The firm expects the company to show positive results this year.

As of the close of Q1 2023, 53 hedge funds in Insider Monkey’s database reported having stakes in Constellation Energy Corporation (NASDAQ:CEG), up from 51 in the previous quarter. These stakes have a collective value of over $2.5 billion.

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