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Insights: High-Dividend Yield Stocks in the Utilities Sector Insights: High-Dividend Yield Stocks in the Utilities Sector

Amid market turbulence, investors often seek safe harbors, and high-dividend-yielding stocks often fit the bill. These companies boast ample free cash flow and are committed to rewarding shareholders with a generous dividend payout.

To stay informed, traders can tap into the latest insights from Wall Street’s most accurate analysts. By diving into Benzinga’s extensive database of analyst ratings, investors can keep abreast of high-yield dividend stock recommendations.

Let’s delve into the recent ratings of three high-yielding stocks in the utilities sector, specifically highlighted by Wall Street’s most precise analysts.

NextEra Energy, Inc. (NYSE: NEE)

  • Dividend Yield: 3.34%
  • Citigroup analyst Ryan Levine initiated coverage on the stock with a Buy rating and a price target of $69 on Dec. 8, 2023. Levine, who boasts a 62% accuracy rate, provided this bullish assessment.
  • JP Morgan analyst Christopher Turnure maintained an Overweight rating and lifted the price target from $65 to $67 on Nov. 29, 2023. Turnure, exhibiting a 65% accuracy rate, is also optimistic about the stock’s prospects.
  • Recent News: NextEra Energy recently posted better-than-expected fourth-quarter earnings, further highlighted as a positive news catalyst.

The Southern Company (NYSE: SO)

  • Dividend Yield: 4.17%
  • Citigroup analyst Ryan Levine initiated coverage on the stock with a Buy rating and a price target of $82 on Dec. 8, 2023. Levine, with a respectable 62% accuracy rate, provided this encouraging evaluation.
  • Mizuho analyst Anthony Crowdell maintained a Buy rating and adjusted the price target from $76 to $73 on Nov. 21, 2023. Crowdell, with a 59% accuracy rate, continues to favor the stock despite the amended price target.
  • Recent News: Southern Company is gearing up to announce its fourth-quarter earnings on Feb. 15, 2024, thus setting the stage for potential market-moving developments.
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Duke Energy Corporation (NYSE: DUK)

  • Dividend Yield: 4.30%
  • B of A Securities analyst Julien Dumoulin-Smith maintained a Buy rating and revised the price target from $104 to $103 on Dec. 22, 2023. Dumoulin-Smith, with an accuracy rate of 67%, reaffirmed his optimistic stance on the stock.
  • Wells Fargo analyst Neil Kalton upgraded the stock from Equal-Weight to Overweight and raised the price target from $94 to $103 on Nov. 30, 2023. Kalton, boasting a 65% accuracy rate, remains bullish on the stock’s trajectory.
  • Recent News: Duke Energy is slated to release its fourth-quarter financial results on Feb. 8, 2024, providing a key inflection point for the stock’s movement.

Stay tuned for updates on Ford, Eli Lilly, and other stocks to keep on your radar as we head into Tuesday.