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Executive Summary

Renewable-Focused Utilities: Joining Energy’s March Higher

By Roger S. Conrad on May. 9, 2024

There are no energy stocks in the S&P 500’s top 10. The biggest utility, NextEra Energy (NYSE: NEE), is only #56. And even all utilities and oil and gas stocks together are just 6 percent of the stock market’s premier blue chip index.

That’s historic underweighting. But since oil prices bottomed in spring 2020, the S&P Energy Index has beaten the technology-stock laden S&P 500 by nearly 160 percentage points.

Utility stocks have lagged by about 70 points. But they’ve outperformed by almost 10 since the beginning of April—Thanks to AI-led demand growth, M&A windfalls and now a building return to favor for survivors of the past three years’ renewable energy stock washout.

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Smart investing. Taking advantage of real opportunities and not fads (and knowing the difference). Finding the companies and stocks that will deliver for the long haul, so investing lets you live instead of investing turning into your life. Roger Conrad has dedicated his career to these principles—and that’s what Conrad's Utility Investor delivers.

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