Consider These 4 High Yield Utility Preferred Stocks

By Roger Choudhury Below, I focus on preferred stocks from utilities because of stable cash flows from customers. I also ran a stock screen, and noticed that higher yielding preferreds come from California. I take care to mention those at or below par value or call price, which is the dollar amount that you get after the security reaches maturity. Generally speaking, you should avoid preferred stocks that trade significantly above par value, because you end up losing the gap between what you paid for and the par value or call price. With the Fed targeting 0%-0.25% for the federal funds rate and slowing global economic growth, you ought to consider the following: Pacific Gas & Electric (PCG) (5% Redeemable Series A) Recent Price $25.33 per share Callable? Anytime at $25.00 per share Dividends $0.3125 per quarterAll payments made since Q2 2004 Next dividend payment is on May 15 Record date is on Apr 30 Current yield 4.9% S&P Rating BB+ 52 week trading range $20.90 – 26.00 2008 lows ~$20 (from $24) Ticker symbol (Yahoo! / Google / Fidelity) PCG-PE / PCG-E / PCG/PE In the first nine months of 2011, EBIT is down 16.2% to $1.12 billion. Moreover,…