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On Monday, it was announced that billionaire trader and investor Carl Icahn increased his stake in Chesapeake Energy (NYSE:CHK) from 16.6 million shares to 38.6 million shares, an increase of over 132%. This announcement set off a buying frenzy, causing the stock to jump almost 9% during the day. Of course, Chesapeake trades at 9.8 times forward earnings and is one of the natural gas utilities that pays a yield, giving its investors a payout of 1.3%.

According to WallStreetNewsNetwork.com, there are over 25 natural gas stock paying yields as high as 7%. For example, Atmos Energy Corporation (NYSE:ATO) is a Dallas, Texas based distributor of natural gas that yields 4.3%. As a matter of fact, the company just increased its payout from $0.335 per quarter to $0.34, and has increased its dividend every year since 1989. The stock has a forward price to earnings ratio of 13 and recently reported a 20.9% increase in revenues.

TransCanada Corp. (NYSE:TRP) is a Calgary, Alberta based natural gas distributor which has a dividend payout of 4.2%. It is also involved in electrical generation. The stock trades at 16 times forward earnings, with earnings rising for the latest quarter 13.3% on a 3.9% rise in revenues.

Northwest Natural Gas Company (NYSE:NWN), which distributes gas in Washington, Oregon, and California, yields 3.7%. The stock has a forward PE of 16.7. However, revenues were down 18.6% for the latest quarter.

To see the entire list of natural gas stocks that pay dividends, which can be downloaded, sorted, and updated, go to WallStreetNewsNetwork.com.

Disclosure: Author didn't own any of the above at the time the article was written.

Source: 4 Natural Gas Stocks Paying High Yields