5 Best Utility Stocks To Invest In

In this article, we will take a look at the five best utility stocks to invest in. If you want to learn about more stocks in the list and the reasons they’re in here, then head on to 15 Best Utility Stocks To Invest In.

5. Duke Energy Corporation (NYSE:DUK)

Number of Hedge Fund Holders: 32

Duke Energy Corporation (NYSE:DUK) is an American gas and electricity company that includes renewable power generation in its portfolio. The firm has three segments that target the electricity, gas, and renewable markets and it has thousands of megawatts of power capacity alongside millions of customers.

A big feather in Duke Energy Corporation (NYSE:DUK)’s cap is that it is the second largest utility company in America when its market capitalization is taken into account. Duke Energy Corporation (NYSE:DUK) also has a stable dividend profile. This is evidenced by its dividend yield of 3.69% which is above both the utility sector and the S&P 500.

Wells Fargo increased Duke Energy Corporation (NYSE:DUK)’s share price target to $120 from $109 in May 2022, sharing that it believes that the company will benefit from the transition to renewables. 32 of the 912 hedge funds polled by Insider Monkey for this year’s first quarter had invested in Duke Energy Corporation (NYSE:DUK).

Duke Energy Corporation (NYSE:DUK)’s largest investor is Jim Simons’s Renaissance Technologies which owns 1.6 million shares that are worth $185 million.