5 Utility Dividend Stocks with High Yields

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1. Duke Energy Corporation (NYSE:DUK)

Number of Hedge Fund Holders: 36  

Dividend Yield as of May 16: 3.60% 

Duke Energy Corporation (NYSE:DUK) is a North Carolina-based energy company. On May 11, the company announced that it had won an auction for two leases to develop wind power projects at a site in federal waters. The bids, won in partnership with TotalEnergies, equal $315 million, with Duke paying $155 million. The projects are part of a larger plan by US President Biden to push 30 GW of offshore wind power by 2030. The firm is also working on another offshore wind project that will power nearly 375,000 homes in the Wilmington area.

On May 10, Wells Fargo analyst Neil Kalton maintained an Equal Weight rating on Duke Energy Corporation (NYSE:DUK) stock and raised the price target to $120 from $109, highlighting the “improving regulatory backdrop and substantial energy transition opportunities post 2025”. 

At the end of the fourth quarter of 2021, 36 hedge funds in the database of Insider Monkey held stakes worth $1.1 billion in Duke Energy Corporation (NYSE:DUK), up from 32 in the preceding quarter worth $687 million. 

You can also take a peek at 13 Best Hemp Stocks to Buy Now and Billionaire Dan Loeb’s Top 10 Stock Picks.

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