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Utility stocks are often a go-to choice for investors seeking steady income and long-term stability. In this piece, we highlight three such companies — Duke Energy, OGE Energy, and Evergy — that possess these qualities and offer attractive dividend yields of over 4%.
Duke Energy
Duke Energy (NYSE:DUK) is one of the largest U.S. utilities, with regulated utilities in the Carolinas, Indiana, Florida, Ohio, and Kentucky that deliver electricity to 8.2 million customers. Its natural gas utilities serve more than 1.6 million customers.
Duke Energy has maintained dividend payments for 98 consecutive years. It has consistently hiked its dividends for 16 years.
Duke Energy pays a quarterly dividend of $1.02 per share, or $4.08 annualized, with an annual yield of 4.11%.
The company reported its Q1 results in May, with EPS of $1.44 and revenue of $7.671 billion coming in better than the Street estimates. Over the past year, the company generated revenues of $28.99 billion and net income of $3.17 billion.
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OGE Energy
OGE Energy (NYSE:OGE) is a holding company for Oklahoma Gas & Electric, a regulated utility with electricity generation, transmission, and distribution to 900,000 customers in Oklahoma and Western Arkansas.
Oge Energy has raised its dividend for 18 consecutive years. It pays a quarterly dividend of approximately $0.42 per share, or $1.68 annualized. The annual yield on the dividend is 4.70%.
The company reported a Q1 EPS and revenue miss in May, but reaffirmed its full 2024-year EPS guidance of $2.06-$2.18, compared to the Street estimate of $2.12. Over the past year, the company generated revenues of $2.71 billion and net income of $397.1 million.
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Evergy
Evergy (NASDAQ:EVRG) is a regulated electric utility serving eastern Kansas and Western Missouri and is one of the largest wind energy suppliers in the U.S. The utility has a combined rate base of approximately $19 billion, about half in Kansas and the rest split between Missouri and federal jurisdiction.
The company has raised its dividend for 21 consecutive years. It pays a quarterly dividend of $0.64 per share, or $2.56 annualized, with an annual yield of 4.90%.
Over the past year, the company reported revenues of $5.54 billion and net income of $711.4 million.
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Don’t miss out on this opportunity to take advantage of high-yield investments while rates are high. Check out Benzinga’s favorite high-yield offerings.
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This article Top Utility Stocks With Reliable Dividends And Attractive Yields: Duke Energy, OGE Energy And Evergy originally appeared on Benzinga.com
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