Dominion Energy
Many of the Wall Street firms that we cover are still very positive on utilities, and this company is highly rated. Dominion Energy Inc. (NYSE: D) is an American power and energy company that operates through the following four segments:
- The Dominion Energy Virginia segment generates, transmits and distributes regulated electricity to residential, commercial, industrial and governmental customers in Virginia and North Carolina.
- The Gas Distribution segment engages in the regulated natural gas gathering, transportation, distribution and sales activities, as well as distributes nonregulated renewable natural gas. This segment serves residential, commercial and industrial customers.
- The Dominion Energy South Carolina segment generates, transmits and distributes electricity and natural gas to residential, commercial and industrial customers in South Carolina.
- And the Contracted Assets segment is involved in the energy marketing and price risk activities.
Dominion Energy’s portfolio of assets included approximately 30.2 gigawatts of electric generating capacity; 10,500 miles of electric transmission lines; 85,600 miles of electric distribution lines; and 94,200 miles of gas distribution lines. It serves approximately 7 million customers. The company sells electricity at wholesale prices to rural electric cooperatives and municipalities, as well as into wholesale electricity markets.
Shareholders receive a 4.48% dividend. The BMO Capital Markets target price is $66, and Dominion Energy stock has a $66.25 consensus target. Tuesday’s final trade was for $58.06 a share.
Essex Property Trust
This is an outstanding way for investors looking to add an inflation-busting real estate position to growth and income portfolios. Essex Property Trust Inc. (NYSE: ESS) is a fully integrated real estate investment trust that acquires, develops, redevelops and manages apartment communities in selected West Coast markets.
The company currently has ownership interests in 246 apartment communities, comprising approximately 60,000 apartment homes, with an additional six properties in various stages of active development.
Essex Property Trust stock comes with a 3.76% dividend. Truist Financial has a $250 price objective, while the consensus target is $240.65 and Tuesday’s closing share price was $238.83.
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