10 Best Consistent Dividend Stocks To Invest In Right Now

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

Number of Hedge Fund Holders: 69

NextEra Energy, Inc. (NYSE:NEE) is an American renewable energy company. In recent years, the demand for clean energy has steadily increased, and the company has consistently invested in expanding its capacity and operations to meet this demand. Analysts believe the company is well-positioned to benefit from the growing need for renewable energy, particularly from tech companies aiming to meet climate goals while expanding their energy-heavy data centers. NextEra Energy has announced plans to invest nearly $100 billion from 2024 to 2027, a move expected to more than double its renewables and storage capacity by 2027. The company anticipates adjusted earnings per share (EPS) growth of 6% to 8% through 2027, along with a nearly 10% increase in dividends per share through 2026.

On October 18, NextEra Energy, Inc. (NYSE:NEE) announced a quarterly dividend of $0.515 per share, maintaining the same payout as the previous quarter. With a dividend growth streak extending over 28 years, the company is considered one of the best dividend stocks. As of December 4, the stock offers a dividend yield of 2.72%.

Madison Investments made the following comment about NextEra Energy, Inc. (NYSE:NEE) in its Q3 2024 investor letter:

“The top contributors in the quarter were NextEra Energy, Inc. (NYSE:NEE), Oracle Corporation, Progressive Corporation, Equifax Inc., and United Healthcare. NextEra has continued to perform well given its strong position in the renewable energy space, increasing demand for power, its transmission capabilities, as well as a tailwind from lower interest rates.”

NextEra Energy, Inc. (NYSE:NEE) was a part of 69 hedge fund portfolios at the end of Q3 2024, compared with 73 in the previous quarter, as per Insider Monkey’s database. The stakes held by these hedge funds have a collective value of nearly $2.5 billion.

Overall, NextEra Energy, Inc. (NYSE:NEE) ranks first on our list of the best dividend stocks. While we acknowledge the potential for NEE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NEE but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. 

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