10 Safest Dividend Stocks to Buy Now

2. DTE Energy Company (NYSE:DTE)

Beta: 0.50

Dividend Yield: 3.28%

No. of Hedge Funds: 35

A Michigan-based company, DTE Energy Company (NYSE:DTE) provides electric and gas utility services to approximately three million customers in Michigan. The business operations include regulated utility businesses and non-utility energy infrastructure investments. Incorporating carbon emissions reductions, renewable energy investments, and grid modernization into its long-term plans, the company has positioned itself as a leader in sustainable energy in the Midwest despite tough competition from its peers like FirstEnergy and CMS Energy.

DTE Energy Company (NYSE:DTE) has quietly delivered a 52-week performance of 21.18% annual return – nearly seven times the market index. The company offered the high end of its EPS guidance in 2024, reaching a value of $6.83 in 2024. It has also announced an EPS guidance of $7.09 – $7.23 for 2025, a 7% increase compared to the 2024 guidance midpoint. DTE Energy Company (NYSE:DTE) further has detailed its next 5-year investment plan of $30 billion, which is $5 billion up from its previous 5-year plan. The plan is expected to increase reliability and transition to a cleaner generation.

DTE Energy Company (NYSE:DTE)’s beta of 0.50, the highest on our list of safe dividend stocks, suggests some level of control over volatility. A high dividend yield of 3.28% increases the investor appeal. Backed by 35 hedge funds at the end of Q4 2024, institutional confidence in the stock remains high in the utility sector.