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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 35.83   85.3 0.42 3.80 10.69
PPL 30.95   12.0 2.57 1.65 5.35
DOMINION RESOURCES 76.29   20.4 3.73 3.67 4.91
BROOKFIELD INFRASTRUCTURE PARTNERS LP 41.64   70.6 0.59 2.01 4.86
SOUTHERN COMPANY 52.23   23.8 2.19 2.48 4.62
DUKE ENERGY 89.68   23.9 3.75 3.71 4.18
EDISON INTERNATIONAL 64.20   0.0 -1.31 2.45 3.89
CENTERPOINT ENERGY 30.29   40.9 0.74 1.15 3.77
AVISTA 41.94   20.3 2.07 1.55 3.72
SOUTH JERSEY INDUSTRIES 31.80   27.6 1.15 1.15 3.68
GREAT PLAINS ENERGY 29.15   0.0 -0.65 1.10 3.66
CONSOLIDATED EDISON 84.32   19.1 4.41 2.96 3.53
OGE ENERGY 42.02   19.9 2.11 1.46 3.53
NORTHWESTERN 68.77   17.5 3.92 2.30 3.40
AMERICAN ELECTRIC POWER 84.02   21.5 3.90 2.68 3.23
PUBLIC SERVICE ENTERPRISE 58.70   20.7 2.83 1.88 3.22
MDU RESOURCES GROUP 25.61   18.4 1.39 0.81 3.19
PINNACLE WEST CAPITAL 94.80   20.9 4.54 2.95 3.15
AES 17.73   9.8 1.81 0.55 3.09
ALLIANT ENERGY 46.68   21.4 2.18 1.42 3.09
SEMPRA ENERGY 126.41   39.0 3.24 3.87 3.09
WISCONSIN ENERGY 77.05   23.0 3.35 2.36 3.09
DTE ENERGY 124.04   20.1 6.18 3.78 3.08
EVERSOURCE ENERGY 70.86   21.8 3.25 2.14 3.06
ALLETE 80.05   23.8 3.37 2.35 2.96
XCEL ENERGY 55.41   22.4 2.47 1.62 2.96
NORTHWEST NATURAL GAS 66.69   29.8 2.24 1.90 2.95
NISOURCE 27.51   0.0 -0.12 0.80 2.93
SPIRE 82.34   24.5 3.36 2.37 2.93
PORTLAND GENERAL ELECTRIC 51.19   21.6 2.37 1.45 2.90
CMS ENERGY 54.40   23.4 2.32 1.53 2.86
BLACK HILLS 71.96   15.4 4.66 2.02 2.85
NATIONAL FUEL GAS 60.14   17.6 3.41 1.70 2.85
ARTESIAN RESOURCES 35.05   22.9 1.53 0.98 2.81
OTTER TAIL 50.70   24.6 2.06 1.40 2.79
VECTREN 72.38   30.4 2.38 1.92 2.66
NEXTERA ENERGY 190.06   31.5 6.04 5.00 2.63
IDACORP 98.04   21.8 4.49 2.52 2.62
PNM RESOURCES 45.14   42.2 1.07 1.16 2.60
SOUTHWEST GAS 82.48   22.4 3.68 2.18 2.55
EL PASO ELECTRIC 59.80   29.0 2.06 1.44 2.46
WGL HOLDINGS 83.26   15.7 5.29 2.04 2.44
NEW JERSEY RESOURCES 49.20   22.2 2.22 1.17 2.41
AQUA AMERICA 38.28   35.4 1.08 0.88 2.33
YORK WATER 33.41   32.1 1.04 0.69 2.13
ATMOS ENERGY 100.09   25.2 3.97 2.10 2.12
MGE ENERGY 67.29   27.7 2.43 1.35 2.05
SJW 61.48   33.8 1.82 1.20 1.98
UGI 53.77   22.7 2.37 1.04 1.97
CONNECTICUT WATER SERVICE 68.01   49.3 1.38 1.25 1.84
MIDDLESEX WATER 55.30   28.2 1.96 0.96 1.78
AMERICAN WATER WORKS 105.84   33.5 3.16 2.00 1.73
CHESAPEAKE UTILITIES 92.41   26.8 3.45 1.48 1.64
AMERICAN STATES WATER 69.33   40.3 1.72 1.10 1.60
CALIFORNIA WATER SERVICE GROUP 49.95   39.6 1.26 0.79 1.60
RGC RESOURCES 27.21   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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