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In continuing with the series that I started a few days ago regarding the best stocks to own through a recession tonight I will look at utility stocks. Utility stocks will never make anyone a quick fortune, but they are a terrific way to keep things steady through a turbulent market ride.

Top 5 Utility stocks to own during a recession

1. Exelon Corporation (NYSE:EXC) Exelon is a nice blend between a company that is growing faster than most utility companies and a safe utility play with a decent dividend. You can find higher dividends elsewhere, but the efficiency at this company has been second to none over the last few years.
2. American Electric Power (NYSE:AEP)- AEP is a very conservative electric utility company that pays a very solid dividend of 3.7%. The company has beat earnings estimates several quarters in a row and future expectations are rising. This is not an exciting company, but its one that you can hold for the long haul and feel safe.
3. Equitable Resources (NYSE:EQT) This one is different from the first two in that it is a gas utility company and it is far smaller. The dividend here is not impressive but the growth rate is. This is a good stock to diversify a utility portfolio with since it is quite unique.
4. Great Plains Energy (NYSE:GXP) A huge yield of 6.53% makes this stock very attractive. The growth is minimal, but the company has great cash flow, which is why it can support such a huge dividend. The strong financial position of GXP makes the dividend look quite safe.
5. The Southern Utility Company (NYSE:SO) This is the ultimate slow moving gainer. The stock has consistently moved ever so slightly higher while paying an above average dividend. Owning a stock like this one can take some patience since it rarely moves much at all, but remember you are being paid a nice dividend to hold it.

None of these stocks are exciting and you certainly cannot buy these stocks hoping to double or triple your money in a short period. You should buy them understanding that the market returns will likely be small, but you are being paid as much as 5%-6% a year just to hold them. There are certainly no cd's or money markets that are paying that kind of money now, so the stock simply holding steady or gaining a measly amount isn't bad at all for the investor.

Utility stocks have far less risk than most and for that reason they make a great recessionary stock play.