Investors buy dividend payers

NEW YORK — U.S. stocks finished slightly higher on Wednesday as investors picked stocks that pay big dividends, like real estate and phone companies. Energy companies fell with the price of oil and health care stocks slid.

Stocks barely budged for most of the day. The top gains went to the biggest dividend-payers, which are seen as relatively safe investments. The price of oil, which reached a 15-month high on Monday, inched lower for a second day. Health care stocks continued to lose ground after health insurer Humana said its bonus payments from Medicare could be reduced.

Investors opted for safety a day after some weak earnings reports sent stocks sharply lower.

“People were worried that we’d continue to see investors shy away from what might be an erratic earnings season,” said Kate Warne, an investment strategist for Edward Jones. “It’s good news that investors are a little more optimistic and looking forward.”

The Dow Jones industrial average edged up 15.54 points, or 0.1 percent, to 18,144.20. The Standard & Poor’s 500 index added 2.45 points, or 0.1 percent, to 2,139.18. The Nasdaq composite slipped 7.77 points, or 0.1 percent, to 5,239.02.

Investors bought big dividend payers like real estate investment trust and utilities. Those stocks are the worst performers on the market over the last three months. Early in the year those stocks soared as investors looked for safe picks while the market tumbled.

Real estate investment trust Crown Castle International added $2.45, or 2.8 percent, to $91.45 and American Tower Corp. picked up $2.60, or 2.4 percent, to $111.54. Verizon led phone companies higher with a gain of 40 cents, or 0.8 percent, to $50.30 and utility WEC Energy gained 83 cents, or 1.5 percent, to $57.42.

Health insurer Humana said its plans received lower ratings from the Centers for Medicare and Medicaid Services, and weaker ratings could reduce the bonus payments the company gets from the government. For 2018, the company said 37 percent of its members are in plans rated 4 stars or higher, That’s down from 78 percent a year ago. The stock fell $9.09, or 5.1 percent, to $168.44

The dollar rose to 104.25 yen from 103.41 yen. The euro dipped to $1.1011 from $1.1053.