5 Best Utility Stocks To Buy Now

In this article, we discuss the 5 best utility stocks to buy now. If you prefer to read our detailed analysis of the utility sector, go directly to the 16 Best Utility Stocks To Buy Now.

5. Dominion Energy Inc (NYSE:D)

Market cap as of March 28: $45.74 Billion
Number of Hedge Fund Holders: 41

Dominion Energy Inc (NYSE:D), based in Richmond, Virginia, provides energy to 7 million customers in 13 states and employs over 17,000 people. Its key units include offshore wind, solar, and nuclear power. Dominion is committed to achieving net-zero carbon dioxide and methane emissions by 2050 and invests in renewable energy production facilities.

Dominion Energy Inc (NYSE:D) possesses around 30 gigawatts of electric generation capacity and more than 90,000 miles of electric transmission and distribution lines. In addition to that, it has ownership of an LNG export facility in Maryland, and it is in the process of building a 5.2 GW wind farm situated off the coast of Virginia.

Of the 943 hedge funds tracked by Insider Monkey, 41 funds reported owning stakes in Dominion Energy Inc (NYSE:D) in Q4 2022, compared with 29 in the preceding quarter. Among these hedge funds, Steve Cohen’s Point72 Asset Management is the company’s most notable stakeholder, with 3.81 million shares worth $233.5 million.

Carillon Tower Advisers made the following comment about Dominion Energy, Inc. (NYSE:D) in its Q4 2022 investor letter:

“Dominion Energy, Inc. (NYSE:D) traded lower following the surprise announcement of the company’s strategic review. The company is likely to sell several business units, which will impact future earnings. As a result of earnings uncertainty, we decided to sell the stock.”