5 Best Utility Stocks to Invest In

3. The AES Corporation (NYSE: AES)

Number of Hedge Fund Holders: 51

The AES Corporation (NYSE:AES) ranks 3rd on the 15 best utility stocks to invest in. The New Virginia-based energy company generates electrical power in over 15 countries. The company was founded in 1981 and was formerly known as Applied Energy Services, Inc.

Earlier this year, the company announced its agreement with Alphabet Inc. (NASDAQ:GOOGL) to supply Google’s Vigirina venters with carbon-free energy. The stock jumped 2% year to date. On June 21st, Susquehanna analyst Biju Perincheril initiated coverage on the stock with a Positive rating and a $32 price target.

The company has a market cap of $15.99 billion and offers a dividend yield of 2.51%. In the first quarter of 2021, The AES Corporation (NYSE:AES) had an EPS of $0.28, missing estimates by $0.02. However, the company’s first-quarter revenue was $2.64 billion, beating revenue estimates by $0.27 billion. Shares of AES jumped 57% over the last twelve months.

There were 51 hedge funds that reported owning stakes in The AES Corporation (NYSE:AES) at the end of the first quarter. The total value of these stakes at the end of Q1 is $1.54 billion.