Wall Street's Most Accurate Analysts Say Hold These 3 Utilities Stocks With Over 5% Dividend Yields

Author: Lisa Levin | October 04, 2023 07:31am

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.

Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our Analyst Stock Ratings page. Traders can sort through Benzinga's extensive database of analyst ratings, including by analyst accuracy. Here's a look at the most recent high-yield dividend stock ratings from the most accurate Wall Street analysts, according to Benzinga's Analyst Stock Ratings.

Below are the ratings of the most accurate analysts for three high-yielding stocks in the utilities sector.

Dominion Energy, Inc. (NYSE:D)

• Dividend Yield: 6.29%
• RBC Capital analyst Shelby Tucker maintained a Sector Perform rating and cut the price target from $71 to $53 on Sept. 13, 2023. This analyst has an accuracy rate of 71%.
• Barclays analyst Eric Beaumont initiated coverage on the stock with an Equal-Weight rating and a price target of $52 on Aug. 23, 2023. This analyst has an accuracy rate of 70%.
• Recent News: Dominion Energy reported second-quarter FY23 revenue growth of 5.5% year-over-year to $3.79 billion, exceeding the consensus of $3.67 billion.

Avangrid, Inc. (NYSE:AGR)

• Dividend Yield: 6.13%
• Mizuho analyst Anthony Crowdell reiterated a Neutral rating with a price target of $39 on June 14, 2023. This analyst has an accuracy rate of 65%.
• Wells Fargo analyst Neil Kalton maintained an Equal-Weight rating and cut the price target from $48 to $43 on Feb. 23, 2023. This analyst has an accuracy rate of 71%.
• Recent News: Avangrid and Vitol Inc. said they have reached a landmark transfer agreement for an estimated $100 million of 2023 production tax credits.

ALLETE, Inc. (NYSE:ALE)

• Dividend Yield: 5.31%
• Mizuho analyst Anthony Crowdell maintained a Neutral rating and cut the price target from $64 to $58 on July 21, 2023. This analyst has an accuracy rate of 65%.
• Wells Fargo analyst Sarah Akers maintained an Equal-Weight rating and lowered the price target from $67 to $65 on Jan. 30, 2023. This analyst has an accuracy rate of 69%.
• Recent News: ALLETE reported better-than-expected second-quarter results.

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