Its Medical Devices segment provides electrophysiology products to treat cardiovascular diseases; neurovascular care products to treat hemorrhagic and ischemic stroke; orthopedics products in support of hips, knees, trauma, spine, sports and other; advanced and general surgery solutions that focus on breast aesthetics and ear, nose and throat procedures; and disposable contact lenses and ophthalmic products related to cataract and laser refractive surgery under the Acuvue brand.
Shareholders receive a 2.96% dividend. Johnson & Johnson stock has a $186 price target at Wells Fargo. That compares with the $182.29 consensus target and the close at $158.01 on Wednesday.
Utilities
Atmos Energy
This utility stock is perfect for conservative investors looking for income. Atmos Energy Corp. (NYSE: ATO) engages in the regulated natural gas distribution and pipeline and storage businesses in the United States.
Its Distribution segment is involved in the regulated natural gas distribution and related sales operations in eight states. This segment distributes natural gas to approximately 3 million residential, commercial, public authority and industrial customers. As of September 30, 2022, it owned 73,243 miles of underground distribution and transmission mains.
The Pipeline and Storage segment engages in the pipeline and storage operations. This segment transports natural gas for third parties and manages five underground storage reservoirs in Texas. It also provides ancillary services to the pipeline industry, including parking arrangements, lending and inventory sales. As of September 30, 2022, it owned 5,652 miles of gas transmission lines.
The dividend yield is 2.64%. The BofA Securities price objective is $130. The consensus target for Atmos Energy stock is $127.33, and Tuesday’s closing print was $112.27.
Consolidated Edison
This old-school utility stock offers income investors the stability and track record many seek now. Consolidated Edison Inc. (NYSE: ED) offers electric services to approximately 3.5 million customers in New York City and Westchester County; gas to around 1.1 million customers in Manhattan, the Bronx and parts of Queens and Westchester County; and steam to about 1,700 customers in parts of Manhattan.
Consolidated Edison owns 62 area distribution substations and various distribution facilities; 39 transmission substations and 62 area stations; electric generation facilities with an aggregate capacity of 724 megawatts that run on gas and fuel oil; 4,348 miles of mains and 369,791 service lines for natural gas distribution; and one steam-electric generating station and five steam-only generating stations.
The company operates 572 circuit miles of transmission lines; 14 transmission substations; 86,794 in-service line transformers; 3,994 pole miles of overhead distribution lines; and 1,889 miles of underground distribution lines, as well as 1,867 miles of mains and 105,482 service lines for natural gas distribution. In addition, it is involved in the sale and related hedging of electricity to retail customers, and the provision of energy-related products and services to wholesale and retail customers.
Investors receive a 3.67% dividend. The $96 BofA Securities price target is well above the $88.86 consensus target. On Wednesday, Consolidated Edison stock was last seen trading at $86.80.
All eight of these stocks have reasonable upside to the Wall Street targets, and they all pay very dependable dividends, given their Dividend Aristocrat status. With even moderate appreciation in the share prices of these top companies, investors should be looking at double-digit total return potential over the next 12 months. In a market that is very volatile and could be headed much lower, especially if the potential recession is worse than expected, these safe stocks may make a ton of sense to move to now.
Originally published at 24/7 Wall St.
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