5 Best Utility Dividend Stocks To Buy

4. Entergy Corporation (NYSE:ETR)

Number of Hedge Fund Holders: 30

Dividend Yield as of October 28: 3.75%

Entergy Corporation (NYSE:ETR) is a Louisiana-based company engaged in the production and retail distribution of electricity in the United States. The company operates through two segments – Utility and Entergy Wholesale Commodities. On October 28, Entergy Corporation (NYSE:ETR) declared a $1.07 per share quarterly dividend, a 5.9% increase from its last dividend of $1.01. The dividend was distributed on December 1, to shareholders of record on November 14. Entergy Corporation (NYSE:ETR)’s dividend yield on October 28 came in at 3.75% and it is one of the best dividend stocks to buy. 

Guggenheim analyst Shahriar Pourreza on October 24 reiterated a Buy rating on  Entergy Corporation (NYSE:ETR) and lowered the price target on the shares to $117 from $129. The analyst refreshed select estimates ahead of Q3 earnings season from the Power and Utilities group to factor in “known and measurable year-over-year items”.

According to Insider Monkey’s data, 30 hedge funds were bullish on Entergy Corporation (NYSE:ETR) at the end of Q2 2022, compared to 29 funds in the earlier quarter. Michael Gelband’s ExodusPoint Capital is the largest stakeholder of the company, with 1.2 million shares worth $137 million. 

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