DUK-PA

Duke Energy Series A preferred offers income from one of America's largest regulated utilities, serving 8.2 million electric customers and 1.6 million gas customers across six states. Duke's regulated earnings provide a highly predictable base of cash flow that supports preferred dividend payments.

Regulated utilities like Duke Energy earn returns approved by state regulators, which limits upside but also limits downside. In exchange for accepting regulated returns, utilities get monopoly territories and guaranteed cost recovery. This creates the kind of earnings stability that preferred stock investors prize.

DUK-PA is a straightforward income play — buy it for the dividend, not for capital appreciation. The stock will fluctuate with interest rates (rising rates push preferred prices down), but the dividend itself is highly secure. Duke Energy has paid dividends continuously for nearly a century.