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Dividends

BEPC

CWEN

ENIC

GNE

PAM

Benzinga Insights has identified five value stocks in the utilities sector based on quantified analysis. These include Brookfield Renewable (BEPC), Clearway Energy (CWEN), Enel Chile (ENIC), Genie Energy (GNE), and Pampa Energia (PAM). The companies' recent earnings per share and dividend yields were also reported.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 11:29 am

PSX

Phillips 66 (PSX) reported Q2 adjusted EPS of $3.87, beating the consensus of $3.54. Revenue of $35.74 billion also exceeded the consensus of $34.55 billion. The company returned $1.8 billion to shareholders through dividends and share repurchases in Q2. Since July 2022, the company has returned $5.4 billion to shareholders, with a target of $10 billion to $12 billion by year-end 2024. The company closed the $3.8 billion acquisition of DCP Midstream, LP in Q2. PSX shares are trading lower by 1.48% at $110.45 premarket.

Portfolio Pulse from Lekha Gupta

August 04, 2023 | 11:19 am

MOS

Mosaic Co reported a 37% Y/Y decline in Q2 FY23 revenues to $3.39 billion, beating the consensus of $3.12 billion, due to lower selling prices. EPS of $1.04 missed the consensus of $1.12. Adjusted EBITDA was $744 million, down from $2.0 billion a year ago. The company returned $676 million to shareholders via share repurchases and dividends in H1 2023. Mosaic expects capital expenditures of $1.3 billion-$1.4 billion in 2023. Shares are trading lower by around 3% premarket.

Portfolio Pulse from Lekha Gupta

August 04, 2023 | 11:17 am

AES

CMS

EXC

Three high-dividend yield utilities stocks, AES Corporation, CMS Energy Corporation, and Exelon Corporation, have been recommended by Wall Street's most accurate analysts. AES has a dividend yield of 3.07% and has recently disclosed a long-term growth strategy for renewables and US utilities business. CMS Energy, with a dividend yield of 3.19%, posted better-than-expected Q2 earnings. Exelon, yielding 3.44%, is set to release its latest quarterly earnings report on Aug. 2, 2023.

Portfolio Pulse from Lisa Levin

August 04, 2023 | 11:16 am

KHC

Kraft Heinz Company (NASDAQ:KHC) reported Q2 FY23 sales growth of 2.6% to $6.72 billion, missing the analyst consensus of $6.81 billion. Adjusted EPS of $0.79 beat the analyst consensus of $0.74. The company declared a quarterly dividend of $0.40 per share. Despite facing headwinds in the US market share performance, the company reiterated its full-year outlook. KHC shares are trading lower by 0.61% at $35.66 in premarket.

Portfolio Pulse from Shivani Kumaresan

August 04, 2023 | 11:11 am

GFF

Griffon Corporation (NYSE:GFF) has declared a quarterly cash dividend of $0.125 per share, payable on September 14, 2023. The dividend will be paid to shareholders of record as of the close of business on August 23, 2023.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:09 am

SMG

The Scotts Miracle-Gro Company (NYSE:SMG) reported a 6% YoY decrease in Q3 FY23 net sales to $1.12 billion. The Hawthorne segment sales decreased 40% to $93.4 million. The company attributes the decline to regional weather extremes, inflationary pressures, and price elasticity. The company expects total net sales to decline approximately 10% to 11% for the full year. The company's board of directors has approved the payment of a cash dividend of $0.66 per share.

Portfolio Pulse from Vuk Zdinjak

August 04, 2023 | 11:05 am

FTS

Fortis Inc. expects its long-term growth in rate base to drive earnings that support dividend growth guidance of 4-6% annually through 2027.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 10:47 am

WTRG

Essential Utilities has announced a 7% increase in its dividend from $0.2870 to $0.3071 per share, payable on September 1, 2023, to all shareholders of record on August 11, 2023.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 10:38 am

DVN

Devon Energy Corporation reported Q2 earnings of $1.18 per share, beating the analyst consensus estimate of $1.17. The company also reported record oil production of 323,000 barrels per day in Q2 and expects to sustain production in the range of 643,000 to 663,000 Boe per day for the full-year 2023. Operating cash flow totaled $1.4 billion in Q2, funding all capital requirements and resulting in $326 million of free cash flow. Devon declared a quarterly cash dividend of $0.49 per share, payable on September 29, 2023.

Portfolio Pulse from Ryan Gustafson

August 04, 2023 | 10:36 am