Top 5 Electric Utility Dividend Stocks to Buy
5. The Southern Company (NYSE: SO)
Number of Hedge Fund Holders: 32
Total Value of Hedge Fund Holdings: $400 Million
Dividend Yield as of May 19: 4.10%
Ranking 5th in our list of the top 10 electric utility dividend stocks to buy is The Southern Company (NYSE:SO). The Georgia-based American gas and electric utility company services over 9 million customers through their subsidiaries. The company operates over 2,935 megawatts of solar generating capacity. One of The Southern Company’s major acquisitions was in 2016. The company acquired PowerSecure, an energy technology company, to increase its customer base, extend its size, and broaden the scale of its market. On April 19, the company raised its dividend by 8 cents per share which marked the 20th year in a row that Southern Company increased its common stock dividend.
11 Best Clean Energy Stocks to Buy Now
The Environmental Impact Assessment (EIA) defined clean energy as energy derived from sources that are naturally replenishing but flow-limited; renewable resources are virtually inexhaustible in duration but limited in the amount of energy that is available per unit of time. An example of sources could be sunlight and wind depending on their time and availability. According to Bloomberg New Energy Finance, by 2030, renewable energy sources will account for over 60% of the 5,579 gigawatts of new generation capacity and 65% of the $7.7 trillion in power investment.
The clean energy industry has provided jobs for many Americans over the last couple of decades. According to the Environmental Defense Fund, from 2015-2019, the sector was adding jobs 70% faster than the overall US economy. However the COVID-19 pandemic has took a toll in many industries and the clean energy sector was not immune to this. According to Wood Mackenzie estimates, 2020