5 Utility Dividend Stocks with Over 3% Yield

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In this article, we discuss 5 utility dividend stocks with over 3% yield. If you want to check out some other utility dividend stocks with over 3% yield, go directly to 10 Utility Dividend Stocks with Over 3% Yield

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

Number of Hedge Fund Holders: 22 

Forward Dividend Yield: 3.22% 

Consolidated Edison, Inc. (NYSE:ED) has stakes in the electric, gas, and steam delivery businesses. The company has one of the most solid track records in the dividend space. For the past 47 years, it has paid a growing payout to shareholders. The industry median in this regard is just seven years. Continuing on this impressive trajectory, the company declared a quarterly dividend of $0.79 per share on April 21, in line with previous. The payout will be dispatched to shareholders of note by late May. 

On March 10, Mizuho analyst Anthony Crowdell kept a ‘Buy’ rating on Consolidated Edison, Inc. (NYSE:ED) and raised his price target on it to $94 from $90, noting that a sale of its clean energy business would help the firm minimize equity needs in the coming years. 

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 funds long ED in the preceding quarter with positions valued at $364 million. 

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