Updated on June 10th, 2026 by Bob Ciura
Utility stocks have great appeal for income investors. They typically generate steady earnings year after year, and many utility stocks have recession-proof dividend payouts.
After all, people will always need water, heat, and electricity, even during periods of steep economic downturns.
As a result, utility stocks tend to have high dividend yields, with consistent dividend growth over time.
You can download the list of high dividend stocks (along with important financial ratios such as dividend yields and payout ratios) by clicking on the link below:
So why do these businesses make for attractive investments?
Utilities usually conduct business in highly regulated markets, complying with rules set by federal, state, and municipal governments.
While this sounds highly unattractive on the surface, what it means in practice is that utilities are basically legal monopolies.
The strict regulatory environment that utility businesses operate in creates a strong and durable competitive advantage for existing industry participants.
For this reason, utilities are among the most popular stocks for long-term dividend growth investors — especially because they tend to offer above-average dividend yields.
Indeed, the regulatory-based competitive advantages available to utility stocks give them the consistency to raise their dividends regularly.
Simply put, utility stocks are some of the most dependable dividend stocks around.
This article will list the 15 highest-yielding utility stocks in the Sure Analysis Research Database.
Table Of Contents
The following table of contents provides for easy navigation:
Highest-Yielding Utility Stock #15: Northwest Natural Holding (NWN)
Northwest Natural Holding Company is a diversified utility holding company that operates through three business segments: NWN Gas Utility, SiEnergy, and NWN Water.
Its core gas utility serves 810,000 metered connections and around 2 million people in Oregon and southwest Washington, with approximately 88% of customers located in the former and the remaining 12% located in the latter.
More recently, NWN has expanded its footprint into the high-growth Texas market through the acquisition of SiEnergy. This serves roughly 90,000 metered connections and 225,000 people in the Houston, Dallas-Fort Worth, and Austin area.
Finally, NWN Water reaches 200,000 people across 80,000 connections in six states (Texas, Arizona, California, Idaho, Oregon, and Washington).
Boasting a 70-year dividend growth streak, NWN is one of the most established Dividend Kings.
On February 27th, 2026, the company released its earnings report for the fourth quarter ended December 31st, 2025. NWN’s total operating revenue grew by 6.3% over the year-ago period to $394.2 million in the quarter.
Key contributors to this topline growth during the quarter included new rates in Oregon for NWN Gas Utility, the SiEnergy Gas Utility acquisition in January 2025/Pines last June, and new rates for NWN Water Utility’s Arizona utilities/water acquisitions.
NWN’s adjusted EPS decreased by 1.4% year-over-year to $1.39 for the quarter.
Click here to download our most recent Sure Analysis report on NWN (preview of page 1 of 3 shown below):
Highest-Yielding Utility Stock #14: Firstenergy Corp. (FE)
FirstEnergy Corp, through its subsidiaries, generates, transmits, and distributes electricity in the United States.
The company operates through Regulated Distribution and Regulated Transmission segments. It owns and manages hydroelectric, coal-fired, nuclear, and natural gas, as well as renewable power generating facilities.
Its 10 electric distribution companies form one of the nation’s largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York.
On April 28th, 2026, FirstEnergy released its first-quarter results for the period ending March 31st, 2026. Revenue totaled $4.2 billion, up from $3.8 billion in the first quarter of 2025. GAAP EPS came in at $0.70, compared to $0.62 in 2025, while Core (non-GAAP) EPS was $0.72, up from $0.67 last year.
These gains were partially offset by higher storm restoration expenses, increased financing costs to fund investments, and slightly lower Corporate/Other results due to higher interest expense.
Click here to download our most recent Sure Analysis report on FE (preview of page 1 of 3 shown below):
Highest-Yielding Utility Stock #13: NorthWestern Energy Group (NWE)
NorthWestern Corp. is a Sioux Falls, South Dakota based electricity and gas utility. It has 1,570 employees, and primarily serves the states of South Dakota and Montana.
The company has been dramatically overhauling its energy generation fleet. While NorthWestern long relied on coal for the majority of its power production, that has now shifted with wind, solar, and hydroelectric accounting for approximately 55% of total combined power generation today.
On April 29th, 2026, NorthWestern announced its Q1 2026 earnings. Adjusted earnings-per-share of $1.31 grew from the $1.22 reported in the same period of last year. Revenues of $498 million grew 7% year-over-year. .
Click here to download our most recent Sure Analysis report on NWE (preview of page 1 of 3 shown below):
Highest-Yielding Utility Stock #12: Spire Inc. (SR)
Spire Inc. is a public utility holding company based in St. Louis, Missouri. The company provides natural gas service through its regulated core utility operations while engaging in non-regulated activities that provide business opportunities.
The company has five gas utilities, serving 1.7 million homes and businesses across Alabama, Mississippi, and Missouri. This makes Spire the 5th largest publicly traded natural gas company in the country.
On May 6th, 2026, the company reported its FY’26 second quarter results. The company reported strong fiscal second quarter 2026 results, with adjusted earnings rising to $223.7 million, or $3.76 per share, from $193.7 million, or $3.26 per share, in the prior-year period.
Growth was driven primarily by higher earnings in the Gas Utility segment, supported by new rates in Missouri and Alabama, infrastructure investments, favorable off-system sales, and effective cost management.
The company also strengthened its regulated utility focus through the acquisition of the Piedmont Natural Gas Tennessee business and planned divestitures of non-core assets.
Click here to download our most recent Sure Analysis report on SR (preview of page 1 of 3 shown below):
Highest-Yielding Utility Stock #11: Black Hills Corp. (BKH)
Black Hills Corporation is an electric utility that provides electricity and natural gas to customers in Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota, and Wyoming.
The company has 1.35 million utility customers in eight states. Its natural gas assets include 49,200 miles of natural gas lines. Separately, it has ~9,200 miles of electric lines and 1.4 gigawatts of electric generation capacity.
Black Hills Corporation reported its fourth quarter earnings results in February. The company generated revenue of $635 million during the quarter, which was 6% more than the previous year’s fourth quarter.
Black Hills Corporation generated earnings-per-share of $1.41 during the fourth quarter, which was in line with the consensus analyst estimate. Earnings-per-share were up $0.04 versus the previous year’s quarter.
Q4 and Q1 are seasonally stronger quarters due to higher natural gas demand for heating, which was again showcased by the above-average profitability during the most recent quarter. Black Hills Corporation forecasts earnings-per-share of $4.25 to $4.45 for the current fiscal year.
Click here to download our most recent Sure Analysis report on BKH (preview of page 1 of 3 shown below):
Highest-Yielding Utility Stock #10: Global Water Resources (GWRS)
Global Water Resources is a water resource management company that owns, operates, and manages regulated water, wastewater, and recycled water utilities primarily in metropolitan Phoenix, Arizona.
As of the end of last year, Global Water Resources served more than 121,000 people in 40,000 homes. Global Water generated around $56 million in revenue last year and pays its dividends on a monthly basis.
On May 13th, 2026, Global Water reported its first quarter results for the period ending March 31st, 2026. Revenue grew by 6.7% year-over-year to $13.3 million.
This increase was driven by the acquisition of seven water systems from Tucson Water, organic growth in active water and wastewater connections, increased consumption, and higher rates for GW Farmers following its recent rate case.
Water consumption grew 7.9% year-over-year to 902 million gallons, driven by new connections and higher usage due to unseasonably warm and dry weather during the period. Active service connections grew 5.7% year-over-year to 68,885.
Subsequent to quarter-end, Global Water filed a settlement agreement with the ACC for the GW-Santa Cruz and GW-Palo Verde rate cases, including a proposed $2.3 million annual revenue requirement increase for GW-Santa Cruz and a planned refiling of GW-Palo Verde’s rate case in 2027. EPS came in at $(0.01), down from $0.02 last year.
Click here to download our most recent Sure Analysis report on GWRS (preview of page 1 of 3 shown below):
Highest-Yielding Utility Stock #9: Brookfield Renewable Partners LP (BEP)
Brookfield Renewable Partners L.P. operates one of the world’s largest portfolios of publicly traded renewable power assets. Its portfolio consists of about 33,000 megawatts of capacity in North America, South America, Europe, and Asia.
Brookfield Renewable Partners is one of four publicly traded listed partnerships that are operated by Brookfield Asset Management (BAM).
In early May, BEP reported (5/1/26) results for the first quarter of 2026. Its funds from operations (FFO) per unit grew 15%, from $0.48 to $0.55, thanks to asset development and acquisitions.
Management expects the strong business momentum to remain in place this year. We still expect 9% growth of FFO per share this year.
BEP is resilient to high inflation, as about 70% of its contracts are indexed to inflation and most of its costs are fixed.
Click here to download our most recent Sure Analysis report on Brookfield Renewable Partners (preview of page 1 of 3 shown below):
Highest-Yielding Utility Stock #8: Portland General Electric (POR)
Portland General Electric is an electric utility based in Portland, Oregon, providing electricity to more than 950,000 customers in 51 cities.
The company owns or contracts more than 3.5 gigawatts of energy generation, between gas, coal, wind & solar, and hydro. In 2025, the corporation generated $3.6 billion in revenue.
The utility company is diversified by customer, with 34% of retail deliveries going to residential customers, 31% to commercial clients, and 35% to industrial clients.
On April 24th, 2026, Portland General Electric announced a 5% increase in the quarterly dividend to $0.5513 per share.
Portland General reported Q1 2026 results on May 1st, 2026. The company reported net income of $45 million for the quarter, equal to $0.38 per diluted share on a GAAP basis, compared to $0.91 in Q1 2025. Adjusted EPS was $0.58.
During the quarter, commercial, and residential deliveries declined by 2.3% and 6.2% over the prior-year period, respectively. Meanwhile, industrial energy deliveries jumped 9.3%.
Leadership reaffirmed its 2026 adjusted EPS guidance at a midpoint of $3.43, assuming approximately 2% annual growth in energy deliveries.
Click here to download our most recent Sure Analysis report on POR (preview of page 1 of 3 shown below):
Highest-Yielding Utility Stock #7: National Grid (NGG)
National Grid plc is a diversified electricity and natural gas utility operating in the UK and the US. In the UK, National Grid owns and operates the electric transmission network.
In the US, the company serves 7.1 million electricity and natural gas customers in Massachusetts and New York.
Today, the utility operates in five business segments: UK Electricity Transmission, UK Electricity Distribution, and US Regulated – New York. US Regulated – New England, National Grid Ventures (NGV), and Other.
National Grid reported fiscal half-year FY 2026 results on November 6th, 2025. Company-wide underlying (continuing operations) operating profit (CC) rose 13%, and earnings per share increased 6% to $2.00 from $1.85 in comparable periods.
Underlying operating profits rose due to contributions from a strong performance in the US and UK, offset by lower joint venture (“JV”) profits.
Underlying operating profit for UK Electricity Transmission rose 17% to $1,126M from $966M on increased revenue, and UK Electricity Distribution was down 4% on a year-over-year basis.
Click here to download our most recent Sure Analysis report on NGG (preview of page 1 of 3 shown below):
Highest-Yielding Utility Stock #6: Eversource Energy (ES)
Eversource Energy is a diversified holding company with subsidiaries that provide regulated electric, gas, and water distribution services in the Northeast U.S.
ES serves more than four million utility customers.
These businesses serve nearly 250,000 customers in 73 towns and cities. The company anticipates that its Aquarion water businesses will be divested sometime in 2026 (if approved by PURA).
On February 12th, ES released its financial results for the fourth quarter. Total operating revenue rose by 13.4% over the year-ago period to $3.37 billion in the quarter.
Base distribution rate increases (in Massachusetts, New Hampshire, and Connecticut) and continued system investments fueled this top-line growth during the quarter.
ES logged $1.12 in non-GAP EPS for the quarter, which was a 10.9% year-over-year growth rate. This exceeded the analyst consensus in the quarter by $0.02.
The company’s non-GAAP net profit margin held steady at 12.5% during the quarter.
ES announced a 4.7% raise to its quarterly dividend per share to $0.7875. That represents its 28th consecutive year of dividend growth.
Click here to download our most recent Sure Analysis report on ES (preview of page 1 of 3 shown below):
Highest-Yielding Utility Stock #5: Brookfield Infrastructure Partners LP (BIP)
Brookfield Infrastructure Partners L.P. is one of the largest global owners and operators of infrastructure networks, which includes operations in sectors such as energy, water, freight, passengers, and data.
Brookfield Infrastructure Partners is one of four publicly-traded listed partnerships that is operated by Brookfield Asset Management (BAM).
BIP reported strong results for Q1 2026 on 04/29/26. For the quarter, the diversified utility reported funds fromoperations of $689 million, up 9.8% year over year, driven by its data and midstream segments that experienced increases of 46% and 12%, respectively.
The FFO increase reflects organic growth at the high end of its target range of 6% to 9%, driven by higher inflation-linked revenues, strong utilization in its midstream segment, and the commissioning of over $1.7 billion of projects from its capital backlog since Q1 2025.
Click here to download our most recent Sure Analysis report on Brookfield Infrastructure Partners (preview of page 1 of 3 shown below):
Highest-Yielding Utility Stock #4: Avista Corp. (AVA)
Avista is an electric and natural gas utility operating primarily in the states of Washington, Idaho, Oregon, and Alaska.
In addition to its regulated utility business, the company also operates other businesses, including venture funds, real estate investments, and other investments.
On May 5th, AVA shared its earnings report for the first quarter ended March 31st, 2026. The company’s operating revenue decreased by 7.6% year-over-year to $570 million during the quarter.
The exit from the Colstrip coal-fired power plant at the start of 2026 resulted in the removal of revenues specifically related to the recovery of Colstrip-related costs.
As a regulated utility, AVA was required to pass lower resource costs (-19.5% to $206 million) onto customers as well.
These were partially offset by stronger contributions from alternative revenue programs (i.e., decoupling mechanisms) in the quarter. AVA’s non-GAAP diluted EPS rose by 8.9%.
Click here to download our most recent Sure Analysis report on AVA (preview of page 1 of 3 shown below):
Highest-Yielding Utility Stock #3: Clearway Energy Inc. (CWEN)
Clearway Energy Inc is a large electric utility company which owns and operates contracted energy generation across two segments: conventional generation, and renewables.
The company possesses approximately 13,600 net MW of assets. Clearway is a large owner of renewable energy with 10,800 MW of installed wind, solar and energy storage projects.
Approximately 2,800 net MW of the company’s energy comes from dispatchable power generation.
On February 17th, 2026, Clearway again raised its quarterly dividend by 2% to $0.4676 per share, or $1.87 per year.
Clearway Energy reported first quarter 2026 results on May 7th, 2026. The company generated $257 million in adjusted EBITDA for the quarter, up 2% from $252 million in the prior year quarter.
Cash from operating activities more than quadrupled to $401 million and cash available for distribution (CAFD) was $70 million compared to $77 million in Q1 2025.
Click here to download our most recent Sure Analysis report on CWEN (preview of page 1 of 3 shown below):
Highest-Yielding Utility Stock #2: AES Corp. (AES)
The AES (Applied Energy Services) Corporation was founded in 1981 as an energy consulting company. The corporation now has businesses in 14 countries and a portfolio of approximately 160 generation facilities.
AES produces power through various fuel types, such as gas, renewables, coal, and oil/diesel. The company has more than 36,000 Gross MW in operation.
On March 2nd, 2026, GIP, and EQT Infrastructure VI Fund officially entered an agreement to acquire AES for $15 per share in cash.
The deal is seen as unfavorable by shareholders, especially considering AES stock was trading for $17.28 before the announcement. The acquisition is expected to close in late 2026 or early 2027, at which point AES will become private.
AES Corporation reported full-year results on March 6th, 2026, for the period ending December 31, 2025. Adjusted EPS increased 9.3% to $2.34 from $2.14.
In 2025, the company completed construction of 3.2 GW of energy storage, solar and wind, and signed or awarded new long-term PPAs for 4.0 GW of renewables.
In 2024, for comparison, the company constructed and acquired 3 GW of renewable energy, and constructed a 670 MW combined cycle gas plant in Panama.
Click here to download our most recent Sure Analysis report on AES (preview of page 1 of 3 shown below):
Highest-Yielding Utility Stock #1: Edison International (EIX)
Edison International is a utility holding company that serves as the primary architect for California’s clean energy transition.
It builds and operates the massive electric grid infrastructure required to deliver that power to millions. The company primarily operates through the two following business segments.
Southern California Edison serves a 50,000-square-mile territory and 15 million people. It is a pure-play wires company, which means it has largely divested from fossil-fuel generation to focus on the transmission and distribution of carbon-free electricity.
Trio is the company’s non-regulated arm. It is a global sustainability and energy advisory firm that consults Fortune 500 companies.
It helps large-scale energy users navigate global energy markets, manage their carbon footprints, and implement large scale renewable energy procurement.
On April 28th, EIX released its financial results for the first quarter ended March 31st, 2026. The company’s operating revenue rose by 7.7% over the year-ago period to $4.10 billion during the quarter.
The final decision on the 2025 General Rate Case (adopted in Q3 2025), rate base growth through its outsized capital expenditures, and higher pass-through costs (operating and maintenance costs and property taxes) were key top-line growth catalysts in the quarter.
EIX’s core EPS grew by 3.6% year-over-year to $1.42 for the quarter. That came in $0.09 above the analyst consensus during the quarter.
Click here to download our most recent Sure Analysis report on EIX (preview of page 1 of 3 shown below):
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:
High-Yield Individual Security Research
Other Sure Dividend Resources
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