13 Best Natural Gas and Oil Dividend Stocks To Buy

10. Duke Energy Corporation (NYSE:DUK)

Number of Hedge Fund Holders: 46

Dividend Yield: 3.65%

Duke Energy Corporation (NYSE:DUK) engages in the distribution of natural gas and energy-related services. The company’s electric utilities serve 8.4 million customers across six states, while its natural gas utilities provide gas to 1.7 million customers across five states in the US.

Duke Energy Corporation (NYSE:DUK) has recently suffered badly due to the Hurricanes Debby, Milton, and Helene, with the total cost to restore its facilities in the range of $2.4 billion-$2.6 billion. However, despite the natural disasters, the company reported a revenue of $8.15 billion during Q3 of 2024, beating analysts’ estimates by over $57 million. The utility company also declared a quarterly dividend of $1.045 per share in January and has paid dividends to its investors for 98 consecutive years.

Duke Energy Corporation (NYSE:DUK) has a five-year $73 billion investment program underway to expand its transmission and distribution network, which should grow its earnings per share by 5% to 7% annually through 2028. The company declared in its Q3 earnings call transcript that last year alone, it invested over $4 billion to harden and modernize the grid, which helped avoid nearly 550,000 customer outages in saving 7 million hours of total outage time across all three storms. In December, Duke also filed a plan with the Florida Public Service Commission (FPSC) to recover about $1.1 billion in direct costs associated with its emergency activation and response to the three hurricanes.