5 Biggest Utility Companies in the US

In this piece, we will take a look at the five biggest utility companies in the U.S. For more companies, head on over to 16 Biggest Utility Companies in the U.S.

5. Sempra (NYSE:SRE)

Market Capitalization as of December 23, 2022: $49.6 billion

Sempra (NYSE:SRE) is an American electricity and gas provider that has more than six million customers. The company is headquartered in San Diego, California.

With European countries looking to wean off of Russian fuel imports in the wake of the Ukraine invasion, Sempra (NYSE:SRE) entered into an agreement with a French utility provider to sell it 1.4 million tons of liquefied petroleum gas for 20 years. This came after the company entered into a 5 million tonnes per annum LNG agreement with ConocoPhillips.

27 of the 920 hedge funds polled by Insider Monkey during Q3 2022 had bought Sempra (NYSE:SRE)’s shares.

Out of these, Phill Gross and Robert Atchinson’s Adage Capital Management is Sempra (NYSE:SRE)’s largest shareholder. It owns 420,185 shares that are worth $63 million.

4. Dominion Energy, Inc. (NYSE:D)

Market Capitalization as of December 23, 2022: $50.6 billion

Dominion Energy, Inc. (NYSE:D) is one of the largest electric utilities in the U.S., as it has a whopping 30 gigawatts of power generation in its portfolio. It also distributes gas and serves customers in several states.

Dominion Energy, Inc. (NYSE:D) is planning to build a huge 2.6 gigawatt wind energy plant in West Virginia. This facility is currently securing regulatory approval, with the Bureau of Ocean Energy Management (BOEM) opening a two month comment period on a draft environmental review in December 2022.

Insider Monkey took a look at 920 hedge funds for their third quarter of 2022 investments to discover that 29 had held a stake in Dominion Energy, Inc. (NYSE:D).

Dominion Energy, Inc. (NYSE:D)’s largest hedge fund investor is Ric Dillon’s Diamond Hill Capital which owns 3.2 million shares that are worth $223 million.

3. The Southern Company (NYSE:SO)

Market Capitalization as of December 23, 2022: $78 billion

The Southern Company (NYSE:SO) distributes gas and electricity, and it also generates its own electricity. The firm operates nuclear, wind, solar, hydroelectric, and fossil fuel power plants.

The Southern Company (NYSE:SO) is heavily focusing its efforts to build nuclear power plants, with the two plants that are scheduled to come online next year being the first that have been built in the U.S. in three decades. Combined, the pair can generate 2,430 megawatts of electricity.

31 out of the 920 hedge funds polled by Insider Monkey for their September quarter of 2022 investments had held a stake in The Southern Company (NYSE:SO).

The Southern Company (NYSE:SO)’s largest investor is Jim Simons’ Renaissance Technologies which owns 3 million shares that are worth $208 million.

2. Duke Energy Corporation (NYSE:DUK)

Market Capitalization as of December 23, 2022: $79 billion

Duke Energy Corporation (NYSE:DUK) is capable of generating close to 55,000 megawatts of electricity through multiple mediums. It is headquartered in Charlotte, North Carolina.

Duke Energy Corporation (NYSE:DUK) is planning to add 100 megawatts to its renewable energy portfolio by buying a solar power plant in Mississippi. This plant is located close to a Toyota manufacturing facility and is expected to help the carmaker reduce its emissions as well.

Insider Monkey scanned 920 hedge fund portfolios for this year’s third quarter to determine that 33 had bought Duke Energy Corporation (NYSE:DUK)’s shares.

Out of these, Jim Simons’ Renaissance Technologies is Duke Energy Corporation (NYSE:DUK)’s largest investor. It owns 790,812 shares that are worth $73 million.

1. NextEra Energy, Inc. (NYSE:NEE)

Market Capitalization as of December 23, 2022: $167 billion

NextEra Energy, Inc. (NYSE:NEE) is a Florida based electricity provider that is capable of generating roughly 30,000 megawatts of electricity.

NextEra Energy, Inc. (NYSE:NEE) signed a deal in December 2022 to build a 310 megawatt solar power plant in Texas. While the plant is expected to start operating by 2025 end, the company has large plans for it as eventually, it hopes to generate a whopping 730,000 of electricity with the facility.

73 of the 920 hedge funds part of Insider Monkey’s database had held NextEra Energy, Inc. (NYSE:NEE)’s shares during Q3 2022.

NextEra Energy, Inc. (NYSE:NEE)’s largest investor is Ken Fisher’s Fisher Asset Management which owns 9.4 million shares that are worth $741 million.

Disclosure: None. You can also take a peek at 20 Most Valuable Brands in the World and 12 Most Advanced Countries in Asia.

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