Dividend Aristocrats Ranked: Top 5 According To Hedge Funds

In this article, we discuss top 5 dividend aristocrats according to hedge funds. If you want to read our detailed analysis of dividend stocks and their performance over the years, go directly to read Dividend Aristocrats Ranked: Top 15 According To Hedge Funds. 

5. NextEra Energy, Inc. (NYSE:NEE)

Number of Hedge Fund Holders: 73

NextEra Energy, Inc. (NYSE:NEE) is a Florida-based renewable energy company that invests in energy infrastructure. In 2022, the company extended its dividend growth streak to 26 years. It currently pays a quarterly dividend of $0.425 per share and has a dividend yield of 1.98%, as of January 18. The company is among one of the best dividend stocks according to hedge funds.

In the third quarter of 2022, NextEra Energy, Inc. (NYSE:NEE) reported revenue of $6.72 billion, which saw a 53.8% growth from the same period last year. The company expects over 10% annual dividend per share growth through 2024.

In January, Wells Fargo raised its price target on NextEra Energy, Inc. (NYSE:NEE) to $110 with an Overweight rating on the shares, highlighting the company’s renewables segment.

The number of hedge funds tracked by Insider Monkey owning stakes in NextEra Energy, Inc. (NYSE:NEE) grew to 73 in Q3 2022, from 59 in the previous quarter. The collective value of these stakes is over $2.1 billion. With 9.4 million shares, Fisher Asset Management was the company’s leading stakeholder in Q3.

ClearBridge Investments mentioned NextEra Energy, Inc. (NYSE:NEE) in its Q3 2022 investor letter. Here is what the firm has to say:

“NextEra Energy, Inc. (NYSE:NEE) is an integrated utility business with a regulated utility operating in Florida and the largest wind business in the U.S. NextEra’s regulated business includes Florida Power & Light, which serves nine million people in Florida. NextEra’s share price rose along with the passage of the U.S. Inflation Reduction Act, which considerably expands support for renewable energy.”