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24/7 Wall St. Insights
At 24/7 Wall St., we have focused on dividend stocks for over 15 years because, despite the ups and downs that always accompany the stock market, the reality for many people is the need to have solid passive income streams that accompany income from employment or other avenues.
The more passive income can help cover costly and rising costs like mortgage, insurance, taxes, and other expenses, the easier it is for investors to put away money for future needs as they build to retirement.
Passive income is characterized by its ability to generate revenue without requiring the earner's continuous active effort, making it a desirable financial strategy for those seeking to diversify their income streams or achieve financial independence.
One of the absolute best groups of stocks to look at for passive income is the Dividend Kings . These are the 53 companies that have raised their dividends for 50 years, a testament to their dependability and reliability. Those are two "must-have" items for investors who rely on passive income to boost their overall revenue.
We screened the Dividend Kings looking for utility stocks, and four of the 10 highest-yielding companies in the group happen to fit the bill perfectly. All are top utilities rated Buy at top Wall Street banks, and all make sense for more conservative growth and income investors. Speaking of income, grab this free report now.
Canadian Utilities
Canadian Utilities, an ATCO company, has approximately 5,300 employees and approximately 3,700 employees in joint ventures including LUMA Energy.
With a strong 5.46% dividend and residing in a highly safe sector, this Dividend King is a steal are current trading levels. Canadian Utilities Ltd. (OTC: CDUAF), together with its subsidiaries, engages in the electricity, natural gas, renewables, pipelines, liquids, and retail energy businesses in Canada, Australia, and elsewhere.
It operates through three segments:
- ATCO Energy Systems
- ATCO EnPower
- Corporate & Other segments
The ATCO Energy Systems segment provides regulated electricity transmission and distribution services in:
- Northern and Central East Alberta
- The Yukon
- The Northwest Territories
- The Lloydminster area of Saskatchewan
This segment also provides integrated natural gas transmission and distribution services in Alberta, the Lloydminster area of Saskatchewan, and Western Australia. It owns and operates approximately 9,100 kilometers of natural gas pipelines, 11 compressor sites, approximately 3,600 receipt and delivery points, and a salt cavern natural gas storage peaking facility near Fort Saskatchewan, Alberta in Canada.
The ATCO EnPower segment provides:
- Hydro
- Solar
- Wind
- Natural gas electricity generation
- Natural gas storage
- Industrial water solutions
- Clean fuels, including hydrogen, carbon capture, and underground storage projects; and related infrastructure development in Alberta, the Yukon; the Northwest Territories, Australia, Ontario, Mexico, and Chile
The Corporate & Other segment retails electricity and natural gas and provides whole-home solutions.
Northwest Natural Holding
Northwest Natural Holdings provides natural gas service to approximately 2.0 million people in more than 140 communities.
This off-the-radar utility stock suits worried conservative investors and pays a solid 5% dividend. Northwest Natural Holding Co. ( NYSE: NWN ), through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, industrial, and transportation customers in Oregon and Southwest Washington.
The company also operates 5.7 billion cubic feet of the Mist gas storage facility contracted to other utilities and third-party marketers. It offers natural gas asset management services, and it operates an appliance retail center.
In addition, it engages in gas storage, water, non-regulated renewable natural gas, and other investments and activities.
The Dividend King provides natural gas service through approximately:
- 786,000 meters in Oregon and southwest Washington
- Water services to about 80,000 people through about 33,000 water and wastewater connections in the Pacific Northwest and Texas
Black Hills
Black Hills is a diversified energy company and electric and gas utility in Rapid City, South Dakota.
This Dividend King is way off the radar for many but is among the safest plays now and pays a hefty 4.52% dividend. Through its subsidiaries, Black Hills Corp. ( NYSE: BKH ) operates as an electric and natural gas utility company in the United States.
It operates in two segments:
- Electric Utilities
- Gas Utilities
The Electric Utilities segment generates, transmits, and distributes electricity to approximately 220,000 electric utility customers in:
- Colorado
- Montana
- South Dakota
- Wyoming
The company also owns and operates 1,482 megawatts of generation capacity and 0,024 miles of electric transmission and distribution lines.
The Gas Utilities segment distributes natural gas to approximately 1,107,000 natural gas utility customers in:
- Arkansas
- Colorado
- Iowa
- Kansas
- Nebraska
- Wyoming
In addition, the company owns and operates:
- 4,713 miles of intrastate gas transmission pipelines,
- 42,222 miles of gas distribution mains and service lines, seven natural gas storage sites, approximately 50,000 horsepower of compression, and 515 miles of gathering lines.
Black Hills also constructs and maintains gas infrastructure facilities for gas transportation customers, provides appliance repair services to residential utility customers, and constructs electrical systems for large industrial customers.
Lastly, it produces electric power through wind, natural gas, coal-fired generating plants, and coal at its coal mine near Gillette, Wyoming.
Fortis
Fortis is a leader in North America's regulated gas and electric utility industry.
This is another off-the-radar utility stock and Dividend King that will benefit big time as interest rates start to come down, and it pays a dependable 3.91% dividend. Fortis Inc. ( NYSE: FTS ) operates as an electric and gas utility company in Canada, the United States, and the Caribbean.
It generates, transmits, and distributes electricity to approximately 447,000 retail customers in southeastern Arizona and 103,000 retail customers in Arizona's Mohave and Santa Cruz counties. Its aggregate capacity is 3,408 megawatts (MW), including 68 MW of solar capacity and 250 MW of wind capacity.
The company also sells wholesale electricity to other entities in the western United States, owns gas-fired and hydroelectric generating capacity totaling 65 MW, and distributes natural gas to approximately 1,087,000 residential, commercial, and industrial customers in British Columbia, Canada.
In addition, it owns and operates the electricity distribution system that serves approximately 592,000 customers in southern and central Alberta; owns four hydroelectric generating facilities with a combined capacity of 225 MW; and provides operation, maintenance, and management services to five hydroelectric generating facilities.
Further, the company distributes electricity in the island portion of Newfoundland and Labrador with an installed generating capacity of 145 MW; and on Prince Edward Island with a generating capacity of 90 MW.
Additionally, it provides integrated electric utility service to:
- Approximately 69,000 customers in Ontario
- Approximately 275,000 customers in Newfoundland and Labrador
- Approximately 34,000 customers on Grand Cayman, Cayman Islands
- Approximately 17,000 customers on certain islands in Turks and Caicos
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