![]() ![]() This is a dividend stock that boasts an enviable payment history that dates back to the earliest days of stock markets in the U.S., when it was founded in 1823 as the New York Gas Light Company. If you're looking for the best utility stocks with a rich history of dividends, then look no further than Consolidated Edison ( ED, $95.16). The yield is pretty good at BEP, but just prepared for a more complicated K-1 tax form and a potentially higher taxation rate. ![]() One word of warning: Brookfield is structured as a partnership, meaning shareholders are actually taxed on the profits passed through to them via distributions. This is also helpful for other utility companies that find it cheaper in the short-term to buy from BEP rather than build their own wind or solar farms. What's more, its stable of clean energy and transition power generation like nuclear energy make it a go-to source for corporate customers looking to go green. Those multi-year agreements with deep-pocketed customers help provide Brookfield with very stable cash flow, and generous dividends as a result. Rather, it generates the electricity, but then sells the bulk of the power it generates under long-term agreements with third-party utilities or passes the electricity on directly to large corporate buyers. It's important to understand that Brookfield is not a traditional utility provider like your local power company. It's also a global organization, with operations in North America, Colombia, Brazil, Europe, India and China. And on top of that payout, shares have risen about 20% in the last 12 months, showing the growth potential of one of Wall Street's best utility stocks even amid a challenging market environment.īrookfield Renewable Partners ( BEP, $28.57) has a portfolio of renewable power generation facilities worldwide spanning hydroelectric, wind and solar. The company has increased its dividend for 10 consecutive years, from just 4 cents per share in 2012 to a projected 66 cents per share in 2023. With plans to begin operations by 2027, the plant will "serve a growing demand for zero-carbon intensity fuels for the mobility market as well as other industrial markets." The plant will service third-party companies, but, more importantly, will literally fuel AES Corporation's move to become carbon-neutral as an electricity provider.ĪES is also one of the best dividend stocks. Just a few months ago, the company announced a partnership with Air Products and Chemicals ( APD) to build, own and operate a $4 billion hydrogen production facility in Texas. All told, it operates a power generation portfolio of almost 32,000 megawatts – enough energy to power as many as 28 million homes.Īnd AES is growing aggressively on top of these current operations. This utility stock is even more geographically diverse than that, though, with worldwide operations that span South and Central America, the Caribbean, Europe and Asia. Diversified utility stock AES ( AES, $26.52) is based in Virginia, but may be familiar to folks in the Midwest through its AES Ohio and AES Indiana operations. ![]()
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