The utility industry is one of many that have suffered financial losses as a result of the COVID-19 virus. According to Deloitte data, overall energy use has fallen but did not plummet during the pandemic’s height. As the manufacturing industry has come to a halt, the need for energy in the industrial sector has decreased. The power sector in the United States is still recovering from the COVID-19 slump. Electricity consumption in the country is predicted to increase by 2.8 percent in the second quarter of 2021, thanks mostly to improved economic conditions. In the first quarter of 2022, the energy industry is expected to recover the most. Even if high-growth tech firms are gaining traction during the economic recovery, analysts remain bullish on large utility stocks because of the long-term gains they bring.
Insider Monkey takes a look at the 15 best utility stocks to invest in. Eversource Energy serves nearly 3.6 million customers in Connecticut, Massachusetts, and New Hampshire. The stock has a market capitalization of $29.6 billion and a dividend yield of 2.80%. Last year, it paid $1.1 billion for Columbia Gas, a utility firm. DTE Energy Company is ranked 14th out of the top 15 utility stocks to buy. The corporation serves about 2.2 million clients with power. DTE has a market cap of $22.54 billion and a 2.84 percent dividend yield. Sempra Energy is ranked 13th among the top 15 utility companies to buy. Natural and electric gas infrastructure is provided by the California-based energy firm throughout the United States and Mexico. To date, SRE’s stock has risen 2.60 percent. CMS Energy Corporation is ranked 12th. The Michigan-based energy firm serves over 6 million consumers in the state with electricity and natural gas. CMS Energy Corporation’s stock has risen 3.45% in the last month. The 11th best utility stock to buy is American Water Works Company, Inc. Water and wastewater utilities are operated by the public utility business in over 16 US states. It has a market capitalization of $30.35 billion and a $1.44 dividend yield. Entergy Corporation is ranked 10th. Electricity is distributed to nearly 3 million users by the New Orleans-based energy company. Entergy has a market cap of $20.62 billion and a 3.70 percent dividend yield. For more details, click 15 Best Utility Stocks to Buy Now.
Pixabay
