5 Blue Chip Dividend Stocks with Over 3% Yield

3. Duke Energy Corporation (NYSE:DUK)

Number of Hedge Fund Holders: 36

Dividend Yield as of April 22: 3.45%

Duke Energy Corporation (NYSE:DUK) was founded in 1904 and is headquartered in Charlotte, North Carolina, operating via Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables segments. Duke Energy Corporation (NYSE:DUK) has paid a cash dividend on its common stock for 96 consecutive years.

On April 7, KeyBanc analyst Sophie Karp maintained an Overweight rating on Duke Energy Corporation (NYSE:DUK) and raised the firm’s price target on the stock to $119 from $110. The analyst believes that Duke Energy Corporation (NYSE:DUK) is positioned advantageously as a primary utility investment that is experiencing notable tailwinds in customer growth in its core Southeast territories, which warrants a premium relative to its large cap peers. 

Duke Energy Corporation (NYSE:DUK) declared on January 4 a $0.985 per share quarterly dividend, in line with previous. The dividend was distributed to shareholders on March 16. The company delivers a dividend yield of 3.45% as of April 22. 

According to the fourth quarter database of Insider Monkey, 36 hedge funds were long Duke Energy Corporation (NYSE:DUK), up from 32 funds in the preceding quarter. Renaissance Technologies is the biggest position holder in the company, with 1.74 million shares worth $183.2 million.