11 High Growth Utility Stocks To Invest In Now

4. Cadiz Inc. (NASDAQ:CDZI)

Number of Hedge Fund Holders: 12

Average 5-Year Revenue Growth: 69.38%

Cadiz Inc. (NASDAQ:CDZI) ranks 4th on our list of the best high growth stocks in the utility sector. The company provides a range of water solutions across the United States, operating through two main divisions: Land and Water Resources and Water Filtration Technology. Its services include water supply, storage, transportation, and advanced filtration, particularly for treating contaminated groundwater.

On April 17, Roth MKM initiated coverage of Cadiz Inc. (NASDAQ:CDZI) with a Buy rating and a price target of $10. Analysts view the company’s Mojave Ground Water Bank and Supply system as a major step toward addressing Southern California’s mounting water supply issues. With most of the necessary permits already in place, the project is expected to deliver solid cash flow, with estimates putting its net present value around $1 billion.

On March 24, Cadiz Inc. (NASDAQ:CDZI) announced a cash dividend for its 8.875% Series A Preferred Stock. Shareholders will receive $550 per full share, or $0.55 per depositary share. The dividend was distributed on April 15, to shareholders on record as of April 4.

According to Insider Monkey’s fourth quarter database, 12 hedge funds were bullish on Cadiz Inc. (NASDAQ:CDZI), up from 4 funds in the prior quarter. Whitefort Capital was the biggest stakeholder of the company, with 3.71 million shares valued at $19.3 million.