Best Utility Ddividend Stocks for High Returns in 2024

Utility dividend stocks are a popular choice for investors seeking stability and consistent income. The utility sector, which includes companies providing essential services like electricity, water, and natural gas, is known for its reliable cash flows and resilience even during economic downturns. Many utility companies have a long history of paying steady dividends, making them attractive to income-focused investors. With the growing demand for clean energy and infrastructure investment, the utility industry offers both stability and growth potential. We’ll explore some of the best utility dividend stocks and why this sector is a solid choice for building a reliable, income-generating portfolio.

StockDividend YieldPay-out RatioP/E RatioP/B RatioROE5y Dividend Growth10y Dividend Growth
NextEra Energy2.70%59.48%22.51%3.13%0.14%-15.88%-3.39%
Duke Energy3.63%92.18%20.36%1.79%0.09%2.24%2.77%
Dominion Energy4.69%91.87%19.65%1.74%0.09%-4.38%1.73%
Southern3.32%63.19%20.02%2.84%0.15%3.16%3.28%
American Electric Power3.64%71.42%19.90%793.46%0.14%5.90%5.62%
Exelon3.88%61.77%16.15%1.47%0.09%0.85%-0.10%
Xcel Energy2.28%61.08%21.25%2.07%0.10%6.47%6.48%
Sempra2.73%57.84%19.64%7.31%0.12%-0.06%3.54%
PPL2.97%89.20%30.52%1.78%0.06%-10.16%-4.17%
Consolidated Edison3.44%59.16%18.12%1.53%0.09%2.53%2.79%
Eversource Energy4.57%-135696.54%-40.34%1.47%-0.04%5.97%3.93%
FirstEnergy4.01%107.74%27.15%1.95%0.07%1.87%-3.26%
CenterPoint Energy2.53%53.06%21.53%1.97%0.09%-7.05%-0.75%
Entergy2.99%55.71%18.67%2.19%0.12%3.93%2.72%
Public Service Enterprise 2.55%58.12%22.80%2.88%0.13%4.84%4.70%
Alliant Energy3.02%73.22%24.70%-22.49%0.13%6.18%-0.38%
Ameren2.86%61.87%21.71%2.08%0.10%6.41%4.65%
PG&E0.20%3.11%15.78%1.62%0.11%0.00%0.00%
CMS Energy3.06%58.64%19.38%2.50%0.13%6.40%6.70%
NiSource2.79%62.40%22.16%2.06%0.10%5.09%0.20%
Pinnacle West Capital3.81%63.78%17.16%1.60%0.10%4.25%4.67%
Avangrid4.87%60.70%12.47%0.71%0.06%0.18%0.00%
IDACORP2.82%60.91%22.48%1.94%0.09%5.92%7.38%
NorthWestern4.81%69.66%14.55%1.17%0.08%3.08%5.35%
Otter Tail2.28%25.27%11.25%2.10%0.20%5.49%3.93%
MDU Resources1.94%25.81%10.35%1.34%0.13%-2.64%0.04%
Atmos Energy2.19%47.27%21.81%1.87%0.09%8.85%7.86%
New Jersey Resources3.32%68.50%21.63%2.38%0.11%7.47%-0.12%
WEC Energy3.30%80.41%24.84%2.65%0.11%7.14%8.00%
Black Hills4.02%67.96%17.36%1.32%0.08%5.31%5.10%
Spire4.27%72.50%16.27%1.26%0.08%5.04%5.45%
Avista3.63%75.26%15.70%1.22%0.08%4.31%4.19%
Essential Utilities3.15%62.44%20.13%1.78%0.09%6.99%5.55%
DTE Energy3.33%51.93%16.55%2.19%0.14%-2.83%4.14%
National Fuel Gas3.16%237.12%75.35%2.05%0.02%3.01%2.78%
Southwest Gas3.24%97.81%30.27%1.59%0.05%3.83%6.80%
Edison International3.56%83.84%22.45%2.16%0.10%4.27%8.15%
Portland General Electric4.06%57.14%14.55%1.38%0.10%5.63%5.54%
Excelerate Energy0.53%18.61%29.32%1.50%0.05%0.00%0.00%
PG&E0.20%3.11%15.78%1.62%0.11%0.00%0.00%
AES5.19%49.42%9.89%2.87%0.32%5.00%15.29%
TransAlta2.27%56.94%21.61%2.49%0.12%4.15%-17.77%
Fortis2.76%48.41%18.80%1.39%0.07%4.81%3.15%
Brookfield Infrastructure Partners4.64%-1574.60%-255.91%0.00%-0.01%-4.04%-1.17%
Enbridge6.61%122.28%20.14%2.04%0.10%4.74%7.60%
TC Energy5.77%77.50%14.12%2.41%0.17%0.30%4.22%