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From 62 To 5: Dividend Growth Utilities To Consider

Published Mon, 07 May 2018 09:53:15 -0400 on Seeking Alpha

Utility companies typically have a high dividend yield and make good dividend growth candidates because they operate in a regulatory environment which limits competition and keeps earnings relatively predictable. In this article, we'll go over all of the utilities in the US Dividend Champions list and apply a dividend growth screen to try and find high-quality companies for further consideration.
I used the following requirements:
Dividend Metrics: Used the April 30, 2018 version of the US Dividend Champions list to filter all utility stocks with a dividend streak of 10 or more years. This list is an invaluable resource for dividend growth investors, thank you David Fish. A reasonably high dividend yield of 2.85% or higher (Roughly 1.5 times the S&P 500 yield). Estimated future dividend growth of 6% or more. I used ValueLine's estimated annual dividend growth rates for the next 3-5 years for my estimates. A reasonable payout ratio of 70% or less based on the next 12 months EPS estimates (Dividend / N12 EPS). Quality Metrics: ValueLine financial strength of B+ or better. S&P credit rating of BBB or higher. Moody's credit rating of Baa2 or higher. MorningStar moat rating of narrow or wide. The Results So out of the 62 utility stocks in the US Dividend Champions list, only five passed my dividend and quality metrics screen. (FYI - The full table is at the end of this article).
Alliant Energy Corp. (LNT) CMS Energy Corp. (CMS) Edison International (EIX)... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
AMERIGAS PARTNERS LP 34.94   61.3 0.57 3.80 10.96
PPL 31.11   12.2 2.56 1.65 5.39
DOMINION RESOURCES 76.66   36.5 2.10 3.67 4.89
BROOKFIELD INFRASTRUCTURE PARTNERS LP 42.55   354.6 0.12 2.01 4.74
SOUTHERN COMPANY 55.15   16.9 3.27 2.48 4.55
DUKE ENERGY 87.87   21.4 4.11 3.71 4.28
EDISON INTERNATIONAL 59.44   0.0 -1.13 2.45 4.12
CENTERPOINT ENERGY 29.62   46.3 0.64 1.15 3.97
GREAT PLAINS ENERGY 29.15   0.0 -0.65 1.10 3.66
SOUTH JERSEY INDUSTRIES 33.51   48.6 0.69 1.15 3.61
AVISTA 44.10   14.7 3.00 1.55 3.50
OGE ENERGY 43.23   20.8 2.08 1.46 3.40
CONSOLIDATED EDISON 88.54   20.4 4.35 2.96 3.37
AES 17.09   16.9 1.01 0.55 3.26
NATIONAL FUEL GAS 53.77   15.9 3.39 1.70 3.21
MDU RESOURCES GROUP 25.68   18.6 1.38 0.81 3.20
NORTHWESTERN 72.47   17.3 4.18 2.30 3.20
PUBLIC SERVICE ENTERPRISE 60.00   19.3 3.11 1.88 3.17
PINNACLE WEST CAPITAL 96.67   20.7 4.67 2.95 3.06
AMERICAN ELECTRIC POWER 90.58   21.9 4.14 2.68 3.00
DTE ENERGY 129.54   20.3 6.37 3.78 2.93
ALLIANT ENERGY 50.00   22.8 2.19 1.42 2.90
WISCONSIN ENERGY 83.61   24.2 3.45 2.36 2.88
SEMPRA ENERGY 136.84   39.1 3.50 3.87 2.87
NISOURCE 28.48   0.0 -0.38 0.80 2.84
SPIRE 84.74   19.4 4.37 2.37 2.84
NORTHWEST NATURAL GAS 68.85   30.1 2.29 1.90 2.81
EVERSOURCE ENERGY 77.41   23.0 3.37 2.14 2.80
ALLETE 84.93   22.6 3.75 2.35 2.78
XCEL ENERGY 59.45   23.7 2.51 1.62 2.76
OTTER TAIL 51.72   25.1 2.06 1.40 2.70
PORTLAND GENERAL ELECTRIC 55.28   22.4 2.47 1.54 2.68
VECTREN 72.38   30.4 2.38 1.92 2.66
CMS ENERGY 58.75   26.6 2.21 1.53 2.64
BLACK HILLS 78.12   19.9 3.93 2.02 2.60
ARTESIAN RESOURCES 37.21   24.0 1.55 0.98 2.57
SOUTHWEST GAS 88.10   23.1 3.82 2.18 2.53
NEXTERA ENERGY 204.77   33.9 6.04 5.00 2.48
IDACORP 103.04   22.4 4.61 2.52 2.44
WGL HOLDINGS 83.26   15.7 5.29 2.04 2.44
NEW JERSEY RESOURCES 49.90   34.4 1.45 1.17 2.41
PNM RESOURCES 50.53   45.5 1.11 1.16 2.36
EL PASO ELECTRIC 65.17   27.4 2.38 1.54 2.20
AQUA AMERICA 41.58   47.2 0.88 0.88 2.13
ATMOS ENERGY 104.99   25.1 4.19 2.10 2.01
YORK WATER 34.59   32.6 1.06 0.69 1.99
UGI 52.72   24.2 2.18 1.20 1.98
SJW 62.02   31.5 1.97 1.20 1.96
MGE ENERGY 69.39   27.3 2.54 1.35 1.95
CONNECTICUT WATER SERVICE 68.63   41.1 1.67 1.31 1.89
AMERICAN WATER WORKS 118.27   37.1 3.19 2.00 1.71
MIDDLESEX WATER 61.87   29.8 2.08 0.96 1.57
CHESAPEAKE UTILITIES 93.64   26.4 3.55 1.62 1.56
CALIFORNIA WATER SERVICE GROUP 50.97   44.3 1.15 0.79 1.56
AMERICAN STATES WATER 74.76   42.0 1.78 1.10 1.47
RGC RESOURCES 26.80   0.0 0.00 0.16 0.58
SCANA 47.78   0.0 0.00 0.00 0.00
WESTAR ENERGY 48.73   21.5 2.27 1.60 0.00

AMERIGAS PARTNERS LP - APU
AMERIGAS PARTNERS LP - APU  


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