5 Utility Dividend Stocks with High Yields

In this article, we discuss 5 utility dividend stocks with high yields. If you want to read about some more utility stocks with high yields, go directly to 10 Utility Dividend Stocks with High Yields. 

5. Consolidated Edison, Inc. (NYSE:ED)

Number of Hedge Fund Holders: 22 

Dividend Yield as of May 16: 3.31%  

Consolidated Edison, Inc. (NYSE:ED) has stakes in the electric, gas, and steam delivery businesses. The company posted earnings for the first quarter of 2022 on May 5, reporting a revenue of $4 billion, up over 10% compared to the revenue over the same period last year and beating analyst expectations by $350 million. The firm also reaffirmed previous guidance on earnings per share for 2022, saying it expected EPS to range from $4.40 to $4.60 per share against consensus estimates of $4.49.

On April 25, Credit Suisse analyst Nicholas Campanella initiated coverage of Consolidated Edison, Inc. (NYSE:ED) stock with a Neutral rating and a price target of $100, underlining that the stock was “fairly valued” given growth numbers of gas customers in the New York area. 

At the end of the fourth quarter of 2021, 22 hedge funds in the database of Insider Monkey held stakes worth $323 million in Consolidated Edison, Inc. (NYSE:ED), compared to 24 in the preceding quarter worth $364 million.