Wall Street's Most Accurate Analysts Say Hold These 3 Utilities Stocks With Over 5% Dividend Yields
Portfolio Pulse from Lisa Levin
The most accurate Wall Street analysts recommend holding three high-yielding utility stocks: Dominion Energy, Inc. (D), Avangrid, Inc. (AGR), and ALLETE, Inc. (ALE). These stocks have dividend yields of 6.29%, 6.13%, and 5.31% respectively. Recent news for these companies includes Dominion Energy's Q2 FY23 revenue growth of 5.5%, Avangrid's landmark transfer agreement for an estimated $100 million of 2023 production tax credits, and ALLETE's better-than-expected Q2 results.
October 04, 2023 | 11:31 am
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NEUTRAL IMPACT
Avangrid has reached a landmark transfer agreement for an estimated $100 million of 2023 production tax credits. Analysts maintain a 'Neutral' rating, with price targets cut to $39 and $43 respectively.
Avangrid's tax credit agreement is a positive development, but the cut in price targets by analysts suggests potential headwinds. This could result in a neutral short-term impact on the stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
ALLETE reported better-than-expected Q2 results. Analysts maintain a 'Neutral' rating, with price targets cut to $58 and $65 respectively.
ALLETE's strong Q2 results are a positive indicator, but the cut in price targets by analysts suggests potential obstacles. This could lead to a neutral short-term impact on the stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Dominion Energy's Q2 FY23 revenue growth of 5.5% exceeded consensus. Analysts maintain a 'Sector Perform' and 'Equal-Weight' rating, with price targets cut to $53 and $52 respectively.
Dominion Energy's better-than-expected revenue growth is a positive sign, but the cut in price targets by analysts indicates potential challenges ahead. This could lead to a neutral short-term impact on the stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100