CEG vs SPH: Which Is the Better Dividend Stock?
As of Oct 27, 2026, CEG (Constellation Energy Corporation) screens as the stronger dividend stock, winning 5 of 7 head-to-head metrics. SPH offers the higher yield at 7.79%, CEG has the higher dividend-safety score, and SPH looks like the better value (its fair-value estimate is 36% above its share price).
Key facts: CEG vs SPH
Data as of · Source: SmarterDividends data
- As of Oct 27, 2026, Suburban Propane Partners, L.P. (SPH) has the higher forward dividend yield at 7.79%, versus 0.68% for Constellation Energy Corporation (CEG).
- As of Oct 27, 2026, SmarterDividends grades CEG's dividend safety B (77/100) and SPH's C (60/100).
- By SmarterDividends' count as of Oct 27, 2026, CEG has raised its dividend for 3 consecutive years and SPH for 0.
- As of Oct 27, 2026, CEG pays out 16% of its earnings as dividends and SPH pays out 67%.
- As of Oct 27, 2026, CEG's fair-value estimate is 6% above its share price and SPH's fair-value estimate is 36% above its share price, so SPH looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "CEG vs SPH: Dividend Yield, Safety & Value Compared," updated Oct 27, 2026, https://smarterdividends.com/compare/ceg-vs-sph
| Metric | CEG | SPH |
|---|---|---|
| Forward yield | 0.68% | 7.79% |
| Annual dividend | $1.71 | $1.40 |
| Payout ratio | 16% | 67% |
| Years of growth | 3 yr | 0 yr |
| 5-yr dividend growth | — | -6.3% |
| 5-yr total return | 428% | 23% |
| Dividend safety score | 77 (B) | 60 (C) |
| Fair value estimate | $267.26 | $24.45 |
| Upside to fair value | +6% | +36% |
| Frequency | quarterly | quarterly |
| Market cap | $89.5B | $1.2B |
| P/E ratio | 24.8 | 9.3 |
Higher yield
SPH
7.79%
Safer dividend
CEG
Grade B
Faster growth
SPH
-6.3%
Better value
SPH
+36% upside
CEG vs SPH — FAQ
Is CEG or SPH a better dividend stock?
On the data, CEG wins more head-to-head categories (5 vs 2). SPH offers the higher yield (7.79%), while CEG has the stronger dividend-safety score. The right pick depends on whether you prioritise income, safety or value.
Which has a higher dividend yield, CEG or SPH?
SPH has the higher forward dividend yield at 7.79%, versus 0.68% for CEG.
Is CEG or SPH safer?
CEG has the higher dividend-safety score (77/100 vs 60/100), reflecting stronger payout coverage and dividend-growth history.
Is CEG or SPH better value right now?
As of Oct 27, 2026, SPH looks like the better value: its fair-value estimate is 36% above its share price (undervalued). For CEG, its fair-value estimate is 6% above its share price.
Related comparisons
See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.