10 Safest Dividend Stocks to Buy Now

5. Public Service Enterprise Group Incorporated (NYSE:PEG)

Beta: 0.49

Dividend Yield: 2.99%

No. of Hedge Funds: 42

Based in New Jersey, the diversified energy company Public Service Enterprise Group Incorporated (NYSE:PEG) is primarily engaged in regulated electric and gas utility operations through its subsidiary, PSE&G. The company serves customers across New Jersey with a heavy investment focused on energy efficiency, grid modernization, and renewable integration. Public Service Enterprise Group Incorporated (NYSE:PEG) distinguishes itself from its competitors with its nuclear generation capacity and commitment to decarbonization. Additionally, its strong infrastructure and regulatory stability pave the way for the company’s long-term energy transition leadership.

The 23.32% return over 52 weeks, when the large caps have achieved less than 3%, demonstrates Public Service Enterprise Group Incorporated (NYSE:PEG)’s growth stability during challenging market conditions. Having reached a net income of $3.54 per share in 2024, the company achieved the high end of its non-GAAP operating earnings guidance range of $3.68 per share.  For the 14th consecutive year, the Board of Directors has announced an increase of $0.12 per share of the annual common dividend.  Public Service Enterprise Group Incorporated (NYSE:PEG) also gained approval to invest $2.9 billion in its Clean Energy Future Energy Efficiency 2 program. The program is expected to increase energy efficiency and reduce carbon emissions, leading to the company’s value growth in 2025.

The restrained beta of 0.49 reflects Public Service Enterprise Group Incorporated (NYSE:PEG)’s strong market insulation. A dividend yield of 2.99% ensures income continuity, while the strong institutional interest, represented by 42 hedge funds, indicates the underappreciated potential of the company as one of the safest stocks to buy.