Southern Company distributes natural gas in Illinois, Georgia, Virginia and Tennessee, as well as provides gas marketing services, wholesale gas services and gas pipeline investments operations. It constructs, operates, and maintains 75,924 miles of natural gas pipelines and 14 storage facilities with total capacity of 157 Bcf to provide natural gas to residential, commercial and industrial customers.
The company serves approximately 8.6 million electric and gas utility customers. It also owns or operates 30 hydroelectric generating stations, 24 fossil fuel generating stations, three nuclear-generating stations, 13 combined cycle/cogeneration stations, 44 solar facilities, 13 wind facilities, one fuel cell facility and one battery storage facility. And it provides products and services in the areas of energy efficiency and utility infrastructure. In addition, the company offers digital wireless communications and fiber optics services.
Shareholders receive a 3.52% dividend. Southern Company stock now has an $87 target price at Argus up from a recent $83. The consensus target is $76.44, and shares closed on Friday at $77.25.
Xcel Energy
Conservative investors looking for ideas will like this dependable dividend-paying utility stock. Xcel Energy Inc. (NASDAQ: XEL) generates, purchases, transmits, distributes and sells electricity generated through coal, nuclear, natural gas, hydroelectric, solar, biomass, oil, wood/refuse and wind energy sources. It also purchases, transports, distributes and sells natural gas to retail customers, as well as transports customer-owned natural gas.
In addition, the company develops and leases natural gas pipelines, and storage and compression facilities, and it invests in rental housing projects, as well as procures equipment for the construction of renewable generation facilities. It serves residential, commercial and industrial customers in the portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. The company sells electricity to approximately 3.7 million customers and natural gas to approximately 2.1 million customers.
Investors receive a 2.64% dividend. The Barclays price objective is $78, while the consensus target is $76.73. The final Xcel Energy stock trade on Friday was reported at $73.90.
Seven top stocks in the utility sector that have Buy ratings and come with very dependable dividends might be just the place to ride out the storm. The old saying “you can’t fight the Fed” works both ways. Even though markets are very oversold, the rate hikes will continue throughout this year and likely into 2023. So, stocks may continue to struggle until the rate-hiking cycle is complete.
Originally posted at 24/7 Wall St.
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