#6 - Duke Energy (NYSE:DUK)
Duke Energy (DUK) - Beta: 0.33 - Dividend Yield: 4.36%
For those investors unfamiliar with Duke Energy (NYSE:DUK), don’t let the name confuse you. DUK is a utility company. And utility stocks are among the most solid performers in any economic condition. They really are the definition of a defensive stock. Investors won’t get meteoric capital growth, but they are protected against the downside risk because of prices that are regulated.
Still, utility companies aren’t without risk. Size matters. And Duke is one of the largest companies with approximately 7.7 million retail electric customers that stretch across six states. To complement that, the company also distributes natural gas to over 1.6 million customers across several states. The regions that the company operates in are defined by solid demographics which means that the population remains fairly stable.
And Simply Safe Dividends consistently ranks Duke Energy as one of the best recession-proof stocks. It has delivered a dividend for over 90 years. And for the last 13 years, it has increased its dividend. The company reports earnings on May 12, 2020. Investors should pay attention to the company’s forward guidance. Although utility usage should be going up as more people are staying home, you would expect the company to have a solid year.
About Duke Energy
Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.
Read More - Current Price
- $108.28
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 7 Buy Ratings, 6 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $122.23 (12.9% Upside)
