With the stock market uncertainty, more and more investors are turning to utility stocks. Last week, we wrote about the highest-yielding natural gas utilities stocks. The database of all electric utilities was recently updated by WallStreetNewsNetwork.com. This week, we thought we would provide some of the highest-yielding electric utility stocks.

One of the two highest-yielding electric utilities is Pinnacle West Capital (PNW), the Southwestern utility, which has a yield of 6.7%. This Phoenix-based company generates its electricity from coal, natural gas, oil, nuclear and solar power. The stock has a P/E of 12 and a PEG of 3.75.

Another high-yielder is Missouri-based Empire District Electric (EDE), which yields 6.7%. It serves Missouri, Kansas, Oklahoma and Arkansas. Of its electrical generation, 43% comes from coal and 26% from oil. The stock has a P/E of 20 and a PEG of 2.57.

Another high-yield stock is Great Plains Energy (GXP), a Kansas City, Mo.-based utility that yields 6.6%. Its electrical generation comes from coal, nuclear, natural gas, oil and wind power. Great Plains Energy serves Western Missouri and Eastern Kansas. The stock has a P/E of 14 and a PEG of 2.7.

Consolidated Edison (ED) yields 6% and serves parts of New York, New Jersey and Pennsylvania. The stock has a P/E of 12 and a PEG of 3.94.

Ameren (AEE) is a utility that serves Missouri and Illinois. The stock has a P/E of 14, a PEG of 3.25 and a 6.2% yield.

Another high-yielding utility is Progress Energy (PGN), which yields slightly less than 5.9%. This Raleigh, N.C., utility serves North Carolina, South Carolina and parts of Florida. Of its electrical generation, 30% comes from coal and 35% from oil. The stock has a P/E of 21 and a PEG of 2.28.

You can download an Excel spreadsheet of all the electric utilities and their dividends, which you can sort, add to and change, at WallStreetNewsNetwork.com.

This is simply another way to consider playing a volatile market during the summer.

Posted on Aug. 5, 2008


A note from James Altucher:

Every weekend I send an email to Jim Cramer and several hedge fund managers about the most interesting portfolios posted on Stockpickr that week. Usually those portfolios not only list stocks according to a theme but also offer significant analysis as to why the stocks are cheap.

Here are some examples:

Stocks related to drilling the Marcellus Shale

MLPS with yields above 7%

Microcaps trading for less than tangible book

Stocks that do well after Hurricanes

Here's the challenge: Build a portfolio at Stockpickr.com with great analysis, and send me the link. Each great portfolio (with analysis) will get posted on TheStreet.com with your byline (as a "Stockpickr Guest Columnist") and will be included in my email I send to Jim and the other
hedge fund managers on my list.