Top 10 Companies In The Public Utilities Field

The Public Utilities field is by far the most important and big one for, not just the United States, but every country around the globe. Since public utilities are essential to keep a country’s economy, or the country itself up and running, that’s why, in every nation around the globe, you’ll see the public utilities field exploding with growth. And that too is happening right here in the United States. This also can be attributed to the rising demand for utilities like electricity needs, infrastructure, basic amenities, and things like that. At this point, you might be wondering what companies are in the public utilities field that are keeping up with such high demand, right? Well, first of all, we should be thankful for those dozens of companies working hard in this field. Secondly, you are about to find out more details about such companies because this post is all about the top 10 companies in the public utilities field for 2024. So yeah, let’s get to the list now, shall we?

1. NextEra Energy

NextEra Energy company

  • Market Cap: $122.59 billion
  • Employees: 15,300+

NextEra Energy, a standout in the public utilities sector, especially in renewable energy, is making waves. Guided by NextEra Energy Partners, it’s carved a niche by zeroing in on sustainable energy. It’s their focus on solar and wind energy that sets them apart, aligning perfectly with the world’s tilt towards greener solutions. Of late, NextEra Energy’s been in the limelight, weathering the stock market’s ups and downs, yet it stands resilient. Even with dividends creeping up slowly, it has stood as a steadfast choice for investors.

2. Southern Company

  • Market Cap: $75.73 billion
  • Employees: 27,000+

Southern Company’s journey, you see, is really something else! They’re shooting for zero greenhouse gas emissions by 2050. That’s a big goal, right? But yeah, they’re dealing with some serious money problems and big debts. Known for being smart in the utility business, they’re now switching gears to greener stuff, like nuclear power. But here’s the catch though, their big nuclear projects, Vogtle Units 3 and 4, are way over budget. That just goes to show how tricky these huge projects can be. In 2023, their stock had a bit of a wobble because of the economy and all those changing interest rates. But don’t worry though, they’re somewhat getting back on their feet and looking forward to possibly lower rates in 2024.

3. Duke Energy

  • Market Cap: $74.65 billion
  • Employees: 27,535

Duke Energy is also a major player in the energy game but it’s not been a walk in the park for them. Remember Christmas Eve 2022? To stop their whole grid from crashing during a massive winter storm, they had to turn off the power for half a million folks. That was a real eye-opener about the tough job these utility companies have, especially when the weather goes wild. Duke Energy’s also trying to go green. They’re using green tariffs, which fits with North Carolina’s carbon law. This move lets people support Duke’s switch to cleaner energy. But hold on, these tariffs aren’t everyone’s cup of tea and are still being talked over.

4. Edison International

  • Market Cap: $26.65 billion
  • Employees: 12,831

Did you know Edison International really stands out in the electricity world? They’ve shown they can adapt, changing with the times in the energy market. Just recently, people started talking a lot about their financial health. Why, though? Their stock’s doing better than usual, which means they’re really making their mark in the market. Investors are taking notice, you can tell because the stock price is going up and people are trading more. And yeah, Edison International upped their dividend by 5.8%. They’ve been doing this every year since 2004.

5. American Electric Power (AEP)

  • Market Cap: $42.27 billion
  • Employees: 16,974

American Electric Power, or AEP, is a big name in electricity. Even with the market going up and down, they’re holding strong. Their stock’s been climbing for the last few weeks now. Looks like they’re standing firm in the market. AEP’s price-to-earnings ratio? It’s pretty high, showing they’re a strong force in the market. You can see investors are interested, there’s a lot of trading happening and insiders are getting involved. When you look at their overall financial shape and how they run things, it’s pretty impressive.

6. Constellation Energy

  • Market Cap: $36.83 billion
  • Employees: 13,370

Now, let’s talk about Constellation Energy. They’re really shaking things up in renewable energy. They’re all about green energy. Have you heard about “green” hydrogen? It’s part of this big talk on clean power, including nuclear energy. Their stock? It’s been getting more attention lately, which means people are rethinking their investments. And yeah, they just landed a big deal to supply Microsoft. That’s huge! It shows people really want clean power. This puts them in a great spot for the move to cleaner energy and shows they’ve got a bright future in the industry.

7. Xcel Energy Inc.

  • Market Cap: $34.25 billion
  • Employees: 11,982

Now, let’s talk about Xcel Energy. They’re really into electricity and natural gas, always on top of the latest industry changes. You see, even though the market’s pretty unpredictable, Xcel Energy’s stocks are actually going up. Makes you think that investors must believe in them, doesn’t it? They’ve got this price-to-earnings ratio that’s pretty solid, and their beta value? It’s really steady. If you’ve been watching their stocks, you would’ve seen a noticeable rise recently. But there’s a catch, and it’s not small. They once got fined for a radioactive leak at their Monticello plant.

8. American Water Works Company, Inc.

  • Market Cap: $25.62 billion
  • Employees: 6,400+

This company is big on water services all over the U.S. They’ve been expanding non-stop, especially with their subsidiary, Missouri American Water. They went and bought Ironton Water and Wastewater System, and it cost them a hefty $3.7 million. That’s no small amount, and it brought a lot of new customers their way. But here’s the thing about their stock: it’s kind of puzzling. It’s pretty pricey. There’s this Wall Street analyst who’s just sitting on the fence with a target price of $129.00. They’re neutral, probably because the stock isn’t exactly what you’d call budget-friendly.

9. Eversource Energy

  • Market Cap: $21.34 billion
  • Employees: 9,600+

Here’s a company, Eversource Energy, that’s really in the thick of it with public utilities. They’ve wrestled with the aftermath of not one, but 32 storms, all in just four years. Now, they’re looking to gather a hefty sum of $634 million. Why? To cover the hefty costs they’ve faced. This really puts into perspective the kind of challenges weather throws at utility companies. But Eversource isn’t all about crunching numbers and dealing with bills. They’ve got heart too. Remember when Maine was plunged into darkness? Eversource’s crews from New Hampshire didn’t think twice. They were there in a flash, lighting up the lives of thousands. But what about their stock prices? They’ve seen some highs recently, but just a quarter ago, things weren’t looking too bright. The analysts? They’re on the fence, some are all in, telling you to buy, while others suggest holding your horses.

10. Public Service Enterprise Group (PSEG)

  • Market Cap: $30.22 billion
  • Employees: 12,525+

Lastly, let’s take a good look at the PSEG, which is kinda a big deal in the energy world, especially when it comes to regulated electric, gas, and nuclear generation. Reliable? Absolutely. They’ve been keeping the lights on and homes warm for ages. And yeah, they’re not just doing well, they’re doing great, financially speaking. Just recently, they announced a dividend of $0.57 per share. And get this, they’ve been at it since 1986. The dividends are telling a story of their own too. With a trailing yield of 3.59% and a forward yield nudging slightly higher at 3.63%, they’re hinting that they’re not about to stop those steady payouts.

Conclusion

There you have it. As of December 2023, these are by far the biggest and top companies in the public utilities field, and since we are about to enter 2024, that means these companies will likely perform well in the new year too. If you are someone looking forward to investing in one or few of these companies, then we’d surely advise you to dig a little deeper on your own, because that way you’d have a pretty good understanding of the market itself and where you should put your money for the best return on investment. That’s your best bet.

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