Want Decades of Passive Income? 3 Stocks to Buy Now
Rising interest rates have put pressure on the utility sector, which generally competes for dollars with other income-oriented investments. Basically, when you can buy a certificate of deposit (CD) with a 5% or so yield, it gets harder to justify a utility stock with a similar or lower yield.
But the downturn in the utility sector could be a buying opportunity for dividend investors who think in decades, because of the opportunity for dividend growth, which you won't get from a CD. Here are three utilities you'll want to look at right now.
NextEra Energy (NYSE: NEE) owns one of the largest regulated utilities in the United States, Florida Power Light. This business has long benefited from people moving to the Sunshine State, which increases customer growth, and fairly strong regulator relationships, which allow attractive rate and investment decisions. But the real story with NextEra Energy is its renewable power business, which is the company's growth engine.
Source Fool.com
