5 Utility Stocks with Highest Dividends

1. Clearway Energy, Inc. (NYSE:CWEN)

Dividend Yield as of April 7: 4.64%

Topping our list of Utility Stocks with the Highest Dividends is Clearway Energy, Inc. (NYSE:CWEN). With a portfolio that comprises over 13 GW of gross generating capacity in 27 states, the company is one of the largest owners of clean energy generation assets in the United States.

On March 24, UBS analyst Jon Windham bumped the firm’s price target on Clearway Energy, Inc. (NYSE:CWEN) from $39 to $44, while keeping a ‘Buy’ rating on the shares. The raised target reflects an upside of more than 9% from the current levels.

UBS highlighted Clearway Energy, Inc. (NYSE:CWEN)’s relatively strong visibility, which allows it to meet its goals of long-term cash available for distribution (CAFD). The bullish sentiment is driven by the strong demand for renewable projects, which outpaces the current supply. Moreover, the growing number of AI data centers has also added significantly to the demand for reliable, clean energy.

Clearway Energy, Inc. (NYSE:CWEN) reaffirmed its 2026 CAFD guidance of $470 million to $510 million in its last earnings call. Moreover, the company outlined continued progress toward the 2030 CAFD target of $2.90 to $3.10 per share, representing a 7% to 8% CAGR from last year.

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