Top 5 Electric Utility Dividend Stocks to Buy

4. Sempra Energy (NYSE: SRE)

Number of Hedge Fund Holders: 33
Total Value of Hedge Fund Holdings: $778 Million
Dividend Yield as of May 19: 3.20%

California-based energy infrastructure company Sempra Energy (NYSE:SRE) ranks 4th in our list of top 10 electric utility dividend stocks to buy. The company was founded in 1998 and had over 36 million total customers worldwide. In 2020, the company announced its plans to acquire the remaining stakes that they don’t already own in Infraestructura Energética Nova (IEnova) through a stock for stock exchange phase. The deal is set to close by 2021. On May 6, Wells Fargo maintained an Overweight rating on Sempra Energy and raised the price target to $148.

Sempra Energy (NYSE:SRE) has a market cap of $41.5 billion and currently offers a dividend yield of 3.20%. The company’s first-quarter 2021 earnings came in at $874 million. Shares of SRE increased 8% over the past twelve months.

There were 33 hedge funds that reported owning stakes in Sempra Energy (NYSE:SRE) at the end of the fourth quarter, up from 32 funds a quarter earlier. The total value of these stakes at the end of Q4 is $778 million.