5 Best Utility Stocks to Buy Now

2. The Southern Company (NYSE:SO)

Number of Hedge Fund Holders: 37

The Southern Company (NYSE:SO) is an American gas and utility holding company that also provides wholesale energy and customized energy solutions to its consumers. 

In September, Guggenheim lifted its price target on The Southern Company (NYSE:SO) to $72, while upgrading the stock to ‘Buy’. The firm’s analyst Shahriar Pourreza believes that the company is an attractive entry point for investors in 2022 due to its long-term earnings profile.

The Southern Company (NYSE:SO) has increased its dividend by 10.43% in the past three years and pays an annual dividend of $2.64 per share, yielding 4.26%.

As of Q2 2021, 37 hedge funds tracked by Insider Monkey have positions in The Southern Company (NYSE:SO), up from 35 in the previous quarter. These stakes are valued at $606.4 million.