The rally in equities is being fueled, in large part, by optimism for a more business-friendly environment. That includes less of the regulation that has restricted business growth. This has many investors looking at small-cap stocks, but another area for investors to consider is utility stocks.
However, making this transition will take capital, and these companies will rely on a stable regulatory framework to provide a predictable revenue stream with sustainable earnings growth. But does this jack-of-all-trades approach make the stock a good investment? If you look at the company’s projected earnings growth of between 4% and 6% through 2029, the answer would appear to be yes. A key reason for that earnings growth is the company’s backlog of projects, which includes two new data centers forIn addition to the potential stock price growth that feeds on earnings growth, investors get a dividend with a 4.19% yield that the company has increased for 20 consecutive years.
Duke Energy stock is up approximately 17% in 2024 as of December 5, 2024. It met resistance at its 52-week high of around $121, which closely matches the consensus price target of analysts who continue to offer a Moderate Buy rating on DUK stock. Utility companies need rock-solid balance sheets to execute plans like this. Fortunately, that’s the case with WEC Energy. The company has regulatory deals with both the Wisconsin and Illinois governments, fueling its forecast for compound annual earnings per share growth between 6.5% and 7% between 2025 and 2029.
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