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15 Highest Yielding Utility Stocks | Dividend Yields Up To 5.6%


Updated on July 26th, 2026 by Nikolaos Sismanis
With contributions from Ben Reynolds

Utilities as among the most stable industries.

That’s because utilities:

This results in stable cash flows. And in turn, many utility stocks reward investors with bout high payout ratios and long streaks of rising dividends.

Combining this safety with a high yield is an appealing proposition for many income investors.

Note: For investors looking for high yield stocks, don’t miss our free high dividend stocks list spreadsheet. It has our full list of ~200 individual securities (stocks, REITs, MLPs, etc.) with 4%+ dividend yields. It’s updated daily, and it includes key metrics like expected total returns, % fair value, Buy/Hold/Sell ratings, and more.

 

Click here to instantly download your free high dividend stocks spreadsheet of ~200 securities now, along with important investing metrics.

Spreadsheet Notes: Powered by the Sure Analysis Research Database. See our glossary for information on our metrics.

This research report analyzes the 15 highest-yielding utility stocks we cover in the Sure Analysis Research Database.

Table Of Contents

The following table of contents provides for easy navigation:

Highest-Yielding Utility Stock #15: FirstEnergy Corp. (FE)

FirstEnergy is one of the largest investor-owned electric systems in the United States.

Its regulated utilities serve more than six million customers across Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York.

The company’s earnings are primarily supported by electric distribution and transmission assets, which give it relatively predictable cash flows and reduce its exposure to commodity prices.

FirstEnergy reported first-quarter 2026 revenue of $4.2 billion, up from $3.8 billion in the prior-year period. GAAP earnings-per-share rose to $0.70 from $0.62, while core earnings-per-share increased 7.5% to $0.72.

The company invested $1.4 billion during the quarter, 33% more than a year earlier, with most of the increase directed toward formula-rate programs. Management reaffirmed its 2026 core earnings guidance of $2.62 to $2.82 per share.

Those investments are part of Energize365, FirstEnergy’s plan to spend $36 billion from 2026 through 2030 on grid modernization, reliability, and customer growth.

Management expects the program to drive approximately 10% annual rate-base growth and support long-term core earnings growth near the upper end of its 6% to 8% target.

The large capital plan should provide a visible earnings runway, although investors should continue to monitor regulatory execution, financing needs, and the effect of higher investment on the balance sheet.

Deep Dive: Click here to download (for free) our most recent 3-Page Sure Analysis PDF report on FE

Highest-Yielding Utility Stock #14: Artesian Resources Corporation (ARTNA)

Artesian Resources is a small water utility holding company whose principal subsidiary supplies water to customers in Delaware, Maryland, and Pennsylvania.

It also operates wastewater systems and several related non-regulated businesses.

Water demand tends to be stable through economic cycles, while approved rate increases and steady customer additions provide the foundation for long-term earnings growth.

For the first quarter of 2026, Artesian’s revenue increased 7.3% to $27.8 million. Net income rose 9.2% to $5.9 million, and diluted earnings per share advanced to $0.57 from $0.53.

Higher water sales revenue reflected temporary rate increases in Delaware and customer growth, while both other utility and non-utility revenue also improved.

Artesian invested $13.1 million during the quarter in projects that included water-main replacements, PFAS treatment facilities, meter upgrades, and wastewater infrastructure.

The company continues to pair system investment with a long record of dividend growth.

In May, Artesian raised its quarterly dividend 2% to $0.3199 per share, equivalent to $1.2796 annually, and declared its 134th consecutive quarterly dividend.

The pace of dividend growth is modest, but that is consistent with the capital-intensive nature of the business.

Future returns will depend on constructive rate outcomes, disciplined infrastructure spending, and gradual expansion across the company’s Mid-Atlantic service territory.

Deep Dive: Click here to download (for free) our most recent 3-Page Sure Analysis PDF report on ARTNA.

Highest-Yielding Utility Stock #13: Northwest Natural Holding Company (NWN)

Northwest Natural Holding owns regulated natural gas, water, and wastewater utilities.

Its largest operation, NW Natural Gas, serves customers in Oregon and southwest Washington, while acquisitions have expanded the company’s water and gas footprint into several additional states.

This diversification complements a regulated utility model that has supported 70 years of consecutive dividend increases.

First-quarter 2026 earnings per share rose to $2.33 from $2.18 in the prior-year period. Northwest Natural added approximately 26,000 gas and water connections over the preceding 12 months, lifting total connections 2.8%, and invested $114 million in its utility systems during the quarter.

Management reaffirmed 2026 earnings guidance of $2.95 to $3.15 per share.

The company expects 6% to 8% annual rate-base growth through 2030, supported by planned capital investment of $2.6 billion to $2.9 billion.

Its Washington rate-case settlement should increase revenue in several stages beginning in 2026, while the proposed MX3 expansion of the Mist gas-storage facility represents another potential growth project.

Management targets 4% to 6% long-term earnings growth, with a possible 5% to 7% range if MX3 proceeds.

The dividend record is exceptional, but the payout is likely to grow slowly as Northwest Natural funds its sizable investment program and works through regulatory approvals.

Deep Dive: Click here to download (for free) our most recent 3-Page Sure Analysis PDF report on NWN.

Highest-Yielding Utility Stock #12: RGC Resources, Inc. (RGCO)

RGC Resources is a small utility holding company based in Virginia. Its primary subsidiary, Roanoke Gas, distributes natural gas to residential, commercial, and industrial customers in the Roanoke region.

RGC also owns an equity interest in the Mountain Valley Pipeline, giving it a second source of earnings beyond its regulated distribution operations.

In the second quarter of fiscal 2026, RGC generated consolidated net income of $8.7 million, or $0.84 per diluted share, compared with $7.7 million, or $0.74 per share, one year earlier.

Utility margins benefited from interim base rates associated with the company’s pending rate case and colder weather, including demand created by Winter Storm Fern.

These gains were partly offset by higher operating costs and depreciation. Earnings from the Mountain Valley Pipeline investment also improved, while interest expense declined.

RGC’s investment case rests on steady utility-system spending, constructive regulation, and cash flow from the pipeline stake.

Mountain Valley is now operating and has performed reliably during a period of strong winter demand, improving the earnings contribution from an asset that required years of development.

Still, RGC’s small market capitalization and concentrated service territory make it less diversified than many larger utilities.

Rate-case outcomes, customer growth, and careful balance-sheet management will be important as the company funds infrastructure needs and extends its dividend growth record, which spans 21 consecutive years.

Deep Dive: Click here to download (for free) our most recent 3-Page Sure Analysis PDF report on RGCO.

Highest-Yielding Utility Stock #11: Spire Inc. (SR)

Spire is a regulated natural gas utility holding company serving nearly two million customers across Missouri, Alabama, Mississippi, and Tennessee.

The gas utility businesses provide most of its earnings, supplemented by related infrastructure operations.

Its regulated asset base and long dividend-growth history make Spire an income-oriented utility, though results can be influenced by weather and the timing of rate relief.

For the second quarter of fiscal 2026, Spire reported adjusted earnings of $223.7 million, or $3.76 per share, compared with $193.7 million, or $3.26 per share, in the prior-year quarter.

Gas utility earnings improved as new rates in Missouri and Alabama, infrastructure investment, off-system sales, and cost control more than offset other pressures.

The strong quarter kept the company positioned to achieve its full-year objectives.

Spire is also reshaping its portfolio around regulated utility growth. It completed the $2.48 billion acquisition of Piedmont Natural Gas’s Tennessee operations at the end of March, adding more than 200,000 customers and roughly 3,800 miles of pipeline.

To help finance the transaction and simplify the business, Spire sold its gas-storage operations for $650 million.

Tennessee is expected to account for a meaningful share of planned capital spending through 2030 and support management’s 5% to 7% long-term earnings-growth target.

Execution on integration, rate recovery, and financing will determine how quickly that growth is achieved.

Deep Dive: Click here to download (for free) our most recent 3-Page Sure Analysis PDF report on SR.

Highest-Yielding Utility Stock #10: National Grid plc (NGG)

National Grid owns regulated electricity and natural gas infrastructure in the United Kingdom and the northeastern United States.

Its networks include electricity transmission and distribution in the U.K., as well as regulated utility operations in New York and New England.

The company’s essential assets and largely regulated earnings create defensive cash flows, while extensive grid investment supports long-term growth.

For the fiscal year ended March 2026, National Grid produced underlying operating profit of £5.68 billion, an increase of about 9% at constant currency.

Underlying earnings-per-share rose about 8% on the same basis to 78.0 pence. Capital investment reached a record £11.6 billion, up more than 21%, as the company expanded and reinforced its networks.

The full-year dividend increased 3.8% to 48.49 pence per share.

National Grid is investing heavily because electrification, renewable-energy connections, data-center demand, and replacement of aging infrastructure require substantially more network capacity.

That spending provides a long runway for regulated asset growth, but it also makes financing discipline and favorable regulatory settlements particularly important.

U.S. investors should also remember that National Grid’s American depositary receipts receive pound-denominated dividends, generally on a semiannual schedule.

As a result, the dollar value of the payout can fluctuate with exchange rates even when the underlying dividend increases.

Deep Dive: Click here to download (for free) our most recent 3-Page Sure Analysis PDF report on NGG.

Highest-Yielding Utility Stock #9: Global Water Resources, Inc. (GWRS)

Global Water Resources owns and operates regulated water, wastewater, and recycled-water utilities, primarily in metropolitan Phoenix and other Arizona growth markets.

Its regional approach allows the company to acquire small systems, improve their operations, and connect them with a broader utility platform.

Global Water also pays its dividend monthly, an appealing feature for investors seeking frequent income.

First-quarter 2026 revenue increased 6.7% to $13.3 million, supported by customer growth, acquisitions, and higher water consumption.

Total active service connections rose 5.7% to 68,885, while water usage increased 7.9% to 902 million gallons.

However, the company recorded a net loss of $0.4 million, or $0.01 per share, compared with net income of $0.6 million, or $0.02 per share, a year earlier.

Adjusted EBITDA was roughly unchanged at $5.6 million, and capital expenditures totaled $6.3 million.

The acquisition of seven Tucson-area water systems has broadened Global Water’s footprint, while a recent rate-case settlement for its Santa Cruz and Palo Verde utilities is expected to add approximately $2.3 million of annual revenue.

These initiatives fit the company’s consolidation and regionalization strategy, but its small size can produce uneven quarterly results.

Watch rate-case timing, acquisition integration, financing costs, and the relationship between dividend growth and free cash flow as the utility continues to expand.

Deep Dive: Click here to download (for free) our most recent 3-Page Sure Analysis PDF report on GWRS.

Highest-Yielding Utility Stock #8: Portland General Electric Company (POR)

Portland General Electric is a vertically integrated electric utility serving nearly one million customers in Oregon.

The company owns generation assets and transmission and distribution infrastructure, giving it a central role in the region’s energy system.

Population growth, industrial expansion, and grid modernization support its investment outlook, while weather and regulatory decisions can cause year-to-year earnings variability.

In the first quarter of 2026, Portland General reported GAAP net income of $45 million, or $0.38 per share, compared with $100 million, or $0.91 per share, a year earlier. Adjusted earnings were $68 million, or $0.58 per share.

Mild winter weather reduced residential and commercial usage, but industrial demand increased 10% from the previous quarter, helped by data centers and other technology customers.

Management maintained 2026 adjusted earnings guidance of $3.33 to $3.53 per share, and the board raised the quarterly dividend 5% to $0.55125.

The company also agreed to acquire PacifiCorp’s Washington utility operations with an infrastructure investment partner.

The transaction would add about 140,000 customers and is expected to close in 2027, subject to regulatory approvals. Management expects it to be accretive in the first full year after closing.

The acquisition, rising industrial load, and continued system investment can expand Portland General’s earnings base, though investors should monitor transaction execution, capital requirements, and affordability considerations for customers.

Deep Dive: Click here to download (for free) our most recent 3-Page Sure Analysis PDF report on POR.

Highest-Yielding Utility Stock #7: Eversource Energy (ES)

Eversource Energy is a major regulated utility serving more than four million electric and natural gas customers in Connecticut, Massachusetts, and New Hampshire.

Its transmission and distribution networks generate most of the company’s earnings. Eversource has been simplifying its portfolio and directing capital toward regulated infrastructure, which should make future results easier to evaluate.

First-quarter 2026 GAAP earnings were $606.8 million, or $1.61 per share, compared with $550.8 million, or $1.50 per share, a year earlier.

Recurring earnings reached $650.7 million, or $1.73 per share. Results included a $0.12-per-share after-tax charge tied to a Federal Energy Regulatory Commission decision that lowered the allowed return on New England transmission assets.

Excluding that effect, earnings improved across the transmission, electric distribution, and natural gas businesses.

Management revised 2026 recurring earnings guidance to $4.57 to $4.72 per share.

Eversource completed the sale of its Aquarion water utility in June, advancing its plan to reduce debt and concentrate on its core electric and gas networks.

The proceeds should strengthen the balance sheet as the company funds significant grid investment.

Management continues to target 5% to 7% annual recurring earnings growth through 2030 from its 2026 base.

Regulatory outcomes remain central to the thesis, particularly because even small changes in authorized returns can materially affect earnings.

Deep Dive: Click here to download (for free) our most recent 3-Page Sure Analysis PDF report on ES.

Highest-Yielding Utility Stock #6: Edison International (EIX)

Edison International is the parent of Southern California Edison, one of the largest electric utilities in the United States.

Southern California Edison supplies electricity across a 50,000-square-mile service territory and serves 15 million people.

Its regulated investment program benefits from California’s electrification and grid-hardening needs, but wildfire liabilities and the state’s regulatory environment add risks not faced by many peers.

For the first quarter of 2026, Edison International reported net income of $531 million, or $1.38 per share.

Core earnings were $546 million, or $1.42 per share, up from $528 million, or $1.37 per share, in the prior-year period.

The improvement primarily reflected the final decision in Southern California Edison’s 2025 General Rate Case.

Management reaffirmed 2026 core earnings guidance of $5.90 to $6.20 per share and its expectation for 5% to 7% annual core earnings growth from 2025 through 2030.

The utility is investing heavily in wildfire mitigation, system resilience, and capacity needed for electric vehicles and broader electrification.

California’s Wildfire Recovery Compensation Program and the state’s liability framework are therefore important to the investment case alongside normal rate-base growth.

A constructive regulatory outcome can support earnings and dividend increases, while severe wildfire events or unrecoverable costs could pressure the balance sheet.

The shares offer an above-average utility yield partly because investors continue to demand compensation for that uncertainty.

Deep Dive: Click here to download (for free) our most recent 3-Page Sure Analysis PDF report on EIX.

Highest-Yielding Utility Stock #5: Brookfield Infrastructure Partners L.P. (BIP)

Brookfield Infrastructure Partners owns a diversified portfolio of essential assets across utilities, transport, midstream, and data infrastructure.

Its operations span multiple continents and include regulated or contracted businesses such as transmission lines, pipelines, railroads, ports, telecom towers, and data centers.

This breadth reduces dependence on any one geography or asset class, though the partnership structure and global exposure add complexity for investors.

First-quarter 2026 funds from operations increased 10% to $709 million, while FFO per unit rose to $0.90 from $0.82. Organic growth remained near the high end of management’s 6% to 9% target range.

Data infrastructure FFO increased 46%, and midstream FFO advanced 12%. Brookfield commissioned more than $1.7 billion of capital projects and continued to recycle capital, balancing recent investments against proceeds from mature-asset sales.

Capital recycling is central to Brookfield Infrastructure’s model.

The partnership has secured approximately $1 billion of additional proceeds and expects to redeploy capital into higher-return opportunities, including its expanding partnership with Bloom Energy.

The quarterly distribution was raised 6% to $0.455 per unit. Management’s long-term objective is 5% to 9% annual distribution growth, supported by inflation-linked revenue, organic projects, and acquisitions.

Distributions have grown at a compound annual growth rate of 9% over the last 15 years

Still, weigh that growth record against leverage, currency exposure, economic sensitivity in some businesses, and the tax considerations associated with owning a limited partnership.

Deep Dive: Click here to download (for free) our most recent 3-Page Sure Analysis PDF report on BIP.

Highest-Yielding Utility Stock #4: Avista Corporation (AVA)

Avista is a regulated electric and natural gas utility serving customers in Washington, Idaho, Oregon, and Alaska.

Its service areas combine population centers with smaller communities, and regulated utility operations account for nearly all earnings.

Avista’s long dividend history is attractive for income investors, although its small scale and substantial capital needs make regulatory support especially important.

For the first quarter of 2026, Avista reported net income of $92 million, or $1.11 per diluted share, compared with $79 million, or $0.98 per share, a year earlier.

Non-GAAP utility earnings rose to $91 million, or $1.10 per share, from $82 million, or $1.01 per share.

Reported revenue declined because Avista’s exit from the Colstrip power plant removed pass-through power-cost revenue, while lower resource costs helped margins.

Management reaffirmed 2026 non-GAAP utility earnings guidance of $2.52 to $2.72 per share.

Avista is working through a multiyear investment program focused on reliability, clean-energy requirements, and replacement of aging infrastructure.

Leaving Colstrip changes the company’s supply mix and removes some revenue that carried little margin, so the headline sales decline does not by itself indicate weaker underlying performance.

The key issue is whether regulators allow timely recovery of investments while keeping customer bills manageable.

Constructive rate outcomes would support earnings and dividend growth, whereas regulatory lag and rising financing costs could pressure near-term returns.

Deep Dive: Click here to download (for free) our most recent 3-Page Sure Analysis PDF report on AVA.

Highest-Yielding Utility Stock #3: The AES Corporation (AES)

AES is a global power company with regulated utilities, renewable generation, energy storage, and conventional power assets.

Its portfolio includes AES Indiana and AES Ohio, along with contracted and merchant operations in several international markets.

The company has invested heavily in renewables and long-term power agreements, but its pending acquisition now dominates the near-term investment case.

In the first quarter of 2026, AES generated revenue of approximately $3.18 billion and GAAP net income attributable to the company of $487 million, or $0.68 per diluted share.

Operating cash flow totaled $1.20 billion, while capital expenditures were $1.77 billion.

These figures reflect the scale of the company’s development pipeline and the capital intensity of building new generation and storage assets.

AES has agreed to be acquired by a consortium led by Global Infrastructure Partners in an all-cash transaction valued at $15 per share.

Shareholders have approved the agreement, and closing is expected in late 2026 or early 2027, subject to regulatory approvals and other customary conditions.

Consequently, prospective return is now driven largely by the difference between AES’s market price and the cash consideration, together with dividends received before closing.

The yield should be viewed in that context. It’s about deal timing, regulatory clearance, and the possibility that the transaction does not close that matters more than AES’s normal long-term dividend-growth profile.

Deep Dive: Click here to download (for free) our most recent 3-Page Sure Analysis PDF report on AES.

Highest-Yielding Utility Stock #2: Brookfield Renewable Partners L.P. (BEP)

Brookfield Renewable Partners owns one of the world’s largest publicly traded renewable-power platforms.

Its portfolio includes hydroelectric, wind, solar, distributed energy, storage, and nuclear-services assets across several continents.

Long-term contracts and inflation-linked pricing provide recurring cash flow, while Brookfield’s operating expertise and access to institutional capital support acquisitions and development.

First-quarter 2026 funds from operations rose 19% to $375 million, and FFO per unit increased 15% to $0.55.

Hydroelectric FFO grew nearly 30%, while combined wind and solar FFO advanced approximately 60%.

The partnership still reported a net loss attributable to unitholders, reflecting the accounting effects of depreciation and other non-cash items that can make GAAP income less useful than FFO for assessing its assets.

Brookfield Renewable continues to use asset sales to fund expansion.

It announced nearly $3 billion of sale agreements during the quarter while advancing acquisitions and development projects, including the proposed acquisition of Boralex.

This capital-recycling approach can create value by selling mature assets and reinvesting in opportunities with better prospective returns.

The distribution is supported by contracted cash flows and management’s growth ambitions, but investors should consider leverage, interest rates, currency movements, project execution, and the tax complexity of a limited partnership.

Strong hydrology and acquisition contributions can also make individual quarters unusually favorable.

Deep Dive: Click here to download (for free) our most recent 3-Page Sure Analysis PDF report on BEP.

Highest-Yielding Utility Stock #1: Clearway Energy, Inc. (CWEN)

Clearway Energy owns a large portfolio of contracted wind, solar, energy-storage, and conventional power assets in the United States.

Most cash flow is backed by long-term agreements with utilities and large commercial customers, which improves visibility.

The company uses cash available for distribution, or CAFD, as its primary measure of dividend capacity.

First-quarter 2026 revenue increased to $354 million from $298 million, while adjusted EBITDA edged up to $257 million from $252 million.

Renewable and storage generation rose 8%. Clearway recorded a net loss of $68 million, but operating cash flow increased sharply to $401 million from $95 million.

CAFD declined to $70 million from $77 million, largely because of timing and portfolio factors. Management reaffirmed full-year CAFD guidance of $470 million to $510 million.

Clearway completed the Cardinal Portfolio acquisition in March, investing approximately $240 million net, and continues to develop a late-stage pipeline totaling 12.7 gigawatts.

Management targets CAFD per share of $2.90 to $3.10 by 2030 and believes growth of at least 5% to 8% can continue beyond that point.

The quarterly dividend stands at $0.4676 per share, or about $1.87 annually.

At the highest yield in this group, Clearway offers substantial current income, but project execution, financing costs, counterparty quality, and variable renewable-resource conditions remain important risks.

Deep Dive: Click here to download (for free) our most recent 3-Page Sure Analysis PDF report on CWEN.

Final Thoughts

If you are interested in finding high-quality dividend growth stocks and/or other high-yield securities and income securities, the following Sure Dividend resources will be useful:

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