2022 was the worst year for the stock market since 2008. And bonds suffered their biggest losses since the 1980s. Nonetheless, for the third year in a row, the Dow Jones Utility Average launched a powerful Q4 rally, finishing with a 2.08 percent total return. And that in turn helped carry our Aggressive Holdings ahead 3.5 percent, Conservative Holdings 1.3 percent and Top 10 DRIPs 9.5 percent.
Every January feature article highlights the top picks and pans by sector for the coming year, as well as the past 12-month’s best and worst performers.
Algonquin Power & Utilities (TSX: AQN, NYSE: AQN) has re-set its common stock dividend and will try again to win Federal Energy Regulatory Commission approval for the acquisition of Kentucky Power from American Electric Power (NYSE: AEP).
There are just three trading days to go in 2022. And barring a real last minute tsunami, this year will go down as a decidedly flat overall for the Conrad’s Utility Investor portfolios and Utility Report Card coverage universe.
It’s official: The Federal Reserve raised the target range for its Fed Funds rate to 3.75-4 percent. And accompanying “Fed speak” strongly implies more substantial increases ahead.
“Dream Buy” prices are levels of valuation that historically have been reached only under extremely bad market conditions. But provided underlying businesses stay strong, buyers there will realize windfall gains.
Later this year, the 800-megawatt capacity Vineyard Wind 1 project will begin delivering electricity to the Massachusetts grid. After that, however, the way ahead for US offshore wind is considerably less clear.
The worst mistake investors will make this year won’t be getting caught with a stock on the heels of a disappointing earnings report, misjudging the Federal Reserve’s resolve fighting inflation—or the rising risk of a recession.
Communications is a growing and essential service. And a new generation of 5G and eventually 6G wireless—augmented by fiber broadband networks—is on the cusp of spurring a global revolution in productivity.
So long as the Federal Reserve is on the warpath against inflation, risk of recession will be elevated. And that tilts the odds heavily in favor of lower stock prices over the next few months. The utility stock rally we’ve seen since the October issue of CUI posted, however, is proof positive that the trends powering sector outperformance this year are entrenched as ever.
The California Air Resources Board voted to ban sales of gasoline-powered vehicles by 2035, and targets minimum electric vehicle market share of 35 percent by 2026 and 68 percent by 2030. And 17 other states will likely follow suit.
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Roger's current take and vital statistics on more than 200 essential-services stocks.