Forget Nvidia & SMCI, these utility stocks can be the next big winners

on May 20, 2024
  • Nvidia and $SMCI at about $900 may not be suitable for all investors.
  • Here are the top three utility stocks which can be the next big winners.
  • A brief overview of what each of the three utility stock has to offer.

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Nvidia and Supermicro have been all the rage in financial markets this year.

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But if neither of the two are suitable for the limited capital you have to invest or if you think it’s already too late to build a position in them, here are the top three utility stocks which could be the next big winners.

NextEra Energy Inc (NYSE: NEE)

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NextEra Energy is a great pick if you’re interested in environment-friendly utility stocks.

Shares of the energy company are worth investing as it owns Florida Power & Light Company that currently supports over 11 million residents across that state.

$NEE operates seven nuclear plants that produce clean electricity (emissions free) in Wisconsin, Florida, and New Hampshire. Its NextEra Energy Resources LLC together with affiliates is the world’s biggest generator of solar and wind energy.

NextEra stock pays a healthy dividend yield of 2.72% as well which makes up for another reason to have it in your investment portfolio.

Dominion Energy Inc (NYSE: D)

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Dominion makes it to our list of best utility stocks which could be the next big winners as it has a footprint in 13 states.

The energy and electricity company supplies to some 7 million customers and offers products aimed at helping customers switch to electric vehicles as well.

A near 5.0% dividend yield and commitment to turning carbon dioxide and methane neutral by 2050 makes $D all the more exciting for an investment in May 2024.

Earlier in May, Dominion Energy reported market-beating financial results for the first quarter and reiterated its guidance for the full year.

Duke Energy Corp (NYSE: DUK)

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Duke Energy is on our list of top utility stocks to own in 2024 as it supplies electricity to 8.2 million people across six states.

The $80 billion company based out of Charlotte, North Carolina serves natural gas to about 1.6 million customers across five states as well. In total, its energy generating capacity currently sits at about 50,000 megawatts.

Much like other names on this list, $DUK is also worth buying for its commitment to clean energy. The New York listed firm expects to earn up to $6.10 a share this year versus analysts at $5.97 per share.

Wall Street currently has a consensus “overweight” rating on Duke Energy stock.

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