5 Utility Dividend Stocks with Over 3% Yield

1. Duke Energy Corporation (NYSE:DUK)

Number of Hedge Fund Holders: 36  

Forward Dividend Yield: 3.44% 

Duke Energy Corporation (NYSE:DUK) is a North Carolina-based energy company. New filings from the company show that it has entered into an amended credit agreement that has boosted the credit line of the firm to $9 billion from $8 billion. The termination date of the agreement has also been expanded from March 2025 to March 2027. As of mid-March, the firm had nearly $6.35 billion available for borrowing under the agreement. The company has an impressive dividend history with 11 consecutive years of growing payouts. 

On April 7, KeyBanc analyst Sophie Karp kept an ‘Overweight’ rating on Duke Energy Corporation (NYSE:DUK) and raised her price target on it to $119 from $110, noting the firm was “well positioned” as a core utility investment. 

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

For more intriguing dividend stock picks, check out 10 Russell 2000 Basic Materials Dividend Stocks to Buy and 10 Utilities Stocks with Over 3% Dividend Yield.

Follow Insider Monkey on Twitter