5 Utility Dividend Stocks with High Yields

2. Dominion Energy, Inc. (NYSE:D)

Number of Hedge Fund Holders: 34 

Dividend Yield as of May 16: 3.19%  

Dominion Energy, Inc. (NYSE:D) produces and distributes energy. On March 16, the company announced that the Virginia State Corporation Commission had granted it permission to expand solar and energy storage projects in the state for utility customers. According to the firm, the expansion plans extend to a total of 15 projects in the state. The projects will be completed in 2022 and 2023 and will add an average of $1.13 to the monthly bill of the typical residential customer in the region. 

In late January, Barclays analyst Eric Beaumont reinstated coverage of Dominion Energy, Inc. (NYSE:D) stock with an Equal Weight rating and a price target of $86, noting that the firm had “exceptional visibility” in long-term capital deployment opportunities. 

Among the hedge funds being tracked by Insider Monkey, Ohio-based investment firm Diamond Hill Capital is a leading shareholder in Dominion Energy, Inc. (NYSE:D), with 3.6 million shares worth more than $284 million.