Billionaire Paul Singer’s 5 Dividend Stock Picks

4. Duke Energy Corporation (NYSE:DUK)

Number of Hedge Fund Holders: 32
Dividend Yield as of February 15: 3.94%
Elliott Management’s Stake Value: $97,590,000

Duke Energy Corporation (NYSE:DUK) is an electric power and natural gas company, based in North Carolina, U.S. In Q3 2021, the company accounted for 0.7% of Elliott Management’s portfolio as the hedge fund held shares worth over $97.5 million.

Renaissance Technologies was the largest shareholder of Duke Energy Corporation (NYSE:DUK) in Q3, holding shares worth roughly $168 million. Overall, 32 hedge funds tracked by Insider Monkey held stakes in the company in Q3, down from 36 in the previous quarter. These stakes hold a consolidated value of $687.5 million.

In 2021, Duke Energy Corporation (NYSE:DUK) increased its quarterly dividend by 2% at $0.985 per share. Duke Energy Corporation (NYSE:DUK) has been a dividend payer to shareholders for the past 96 years. As the company announced its strategy to accelerate clean energy investments, in December, Barclays reinstated Duke Energy Corporation (NYSE:DUK) with an Equal Weight rating and a $110 price target.