The Utility Sector is traditionally preferred for steady income and growth. The sector has lagged so far this year due to many factors including the potential impact due to higher interest rates. Currently the Dow Utility index has a P/E ratio of 16.32 compared to over 22 a year ago. The dividend yield for the index is 3.69% relative to the 2% for the S&P 500.

The decline in utility stock prices year-to-date presents an opportunity for investors willing to wait out the short-term volatility and focus on the long-term. Among the utility industry electric utilities offer many options. One way to identify electric utilities for potential investment is to research and go with the largest companies.

The ten largest US electric utilities based on market value are listed below with their current dividend yields for consideration:

1.Company: Duke Energy Corporation (DUK)
Current Dividend Yield: 4.44%

2.Company: NextEra Energy Inc (NEE)
Current Dividend Yield: 3.01%

3.Company: Dominion Resources, Inc. (D)
Current Dividend Yield: 3.78%

4.Company: Southern Company (SO)
Current Dividend Yield: 5.06%

5.Company: Exelon Corporation (EXC)
Current Dividend Yield: 4.01%

6.Company: American Electric Power Co. (AEP)
Current Dividend Yield: 3.88%

7.Company: PG&E Corporation (PCG)
Current Dividend Yield: 3.61%

8.Company: PPL Corporation (PPL)
Current Dividend Yield: 4.85%

9.Company: Public Service Enterprise Group Inc. (PEG)
Current Dividend Yield: 3.92%

10.Company: Edison International (EIX)
Current Dividend Yield: 2.90%

Source: Statista

Note: Dividend yields noted above are as of July 24, 2015. Data is known to be accurate from sources used.Please use your own due diligence before making any investment decisions.

Disclosure: Long NEE