8 Most Profitable Utility Stocks To Invest In

6. Duke Energy (NYSE:DUK)  

Number of Hedge Fund Holders: 37  

TTM Net Income: $4.19 Billion  

5-Year Net Income CAGR: 5.55%

Duke Energy (NYSE:DUK) is one of the largest utility companies in the U.S., supplying electricity to approximately 8.4 million customers across the Southeast and Midwest. The company also operates a natural gas distribution business and provides services to 1.6 million customers in North Carolina, South Carolina, Tennessee, Kentucky, and Ohio.

Duke Energy (NYSE:DUK) is rapidly expanding its renewable energy portfolio, aiming to deploy 30 GW of regulated renewable power generation by 2035. The company’s solar operations form the largest component of its renewable energy mix. Duke Energy currently has over 6,000 MW of renewable capacity through more than 260 power purchase agreements and directly owns 430 MW of renewable generation, including 13 solar plants with a total capacity of up to 153 MW. In addition, the company is making significant investments in battery energy storage systems.

Duke Energy’s (NYSE:DUK) stock is trading at 18.93 times this year’s earnings estimate. The company is expected to achieve 7.27% earnings growth this year. Industry analysts maintain a consensus Buy rating on the stock, with a target price of $121.61, suggesting a 7.23% upside potential from its current price. Duke Energy’s (NYSE:DUK) geographic diversity, favorable regulatory environment, and solid growth outlook make it an attractive investment opportunity.