5 Best Retirement Stocks To Buy Now

3. Duke Energy Corporation (NYSE:DUK)

Dividend Yield as of June 7: 3.51%

Number Of Hedge Fund Holders: 32

Duke Energy Corporation (NYSE:DUK) is an American electric power and natural gas holding company headquartered in Charlotte, North Carolina. On April 27, the company announced its investment in two projects to convert landfill gas from two North Carolina landfills into renewable natural gas. Each project is expected to produce roughly 500,000 dekatherms of renewable natural gas each year.

Duke Energy Corporation (NYSE:DUK) has paid a cash dividend on its common stock for an impressive 96 consecutive years. On May 5, Duke Energy Corporation (NYSE:DUK) declared a $0.985 per share quarterly dividend, in line with previous. The dividend is distributable on June 16, to shareholders of the company as of May 13.

On May 10, Wells Fargo analyst Neil Kalton raised his price target on Duke Energy Corporation (NYSE:DUK) to $120 from $109 and kept an Equal Weight rating on the shares following quarterly results. The analyst sees an improving regulatory backdrop in NC and substantial energy transition opportunities post 2025.

At the end of the first quarter of 2022, 32 hedge funds in the database of Insider Monkey held stakes worth $1.04 billion in Duke Energy Corporation (NYSE:DUK), compared to 36 in the preceding quarter worth $1.1 billion. Of these, Jim Simons’ Renaissance Technologies holds a notable position in Duke Energy Corporation (NYSE:DUK), with over 1.66 million shares worth approximately $185.6 million.