10 Best Electric Utility Stocks To Invest In

7. Duke Energy Corporation (NYSE:DUK)  

Number of Hedge Fund Holders: 37

Duke Energy Corporation (NYSE:DUK) is a leading U.S.-based electricity and natural gas utility holding company, serving 8.2 million customers and owning 50,000 megawatts of energy capacity.

The company is aggressively expanding its renewable energy portfolio, aiming to deploy 30 GW of regulated renewable power by 2035. Solar power is the largest segment of its renewable energy mix, with over 6,000 MW of renewable capacity through more than 260 power purchase agreements and 430 MW of owned generation, including 13 solar plants producing up to 153 MW. Additionally, Duke Energy Corporation (NYSE:DUK) received a $57 million grant from the U.S. Department of Energy in August to rebuild a critical power line in North Carolina, a project expected to generate around 550 jobs and enhance grid reliability.

On October 16, Mizuho upgraded the DUK stock rating from Neutral to Outperform and raised its price target to $121 from $116. The upgrade followed a period of volatility for Duke Energy Corporation (NYSE:DUK), particularly after recent storms in the Southeast, which Mizuho viewed as a buying opportunity. The firm also noted that Duke Energy’s current price-to-earnings (P/E) premium is modest at just 5%, not fully reflecting the company’s storm recovery mechanisms and the strength of the regional economy.