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Executive Summary

Utility Strong, Doom or Boom

By Roger S. Conrad on Mar. 10, 2025

The stock market’s post-election bump has flattened. But utilities are holding firm so far this year, well in the black and running ahead of the S&P 500.

There are exceptions. With the Federal Reserve keeping benchmark interest rates higher for longer, many investors are understandably reluctant to own companies with higher levels of debt.

Sempra Energy (NYSE: SRE) took a hit last month when management cut 2025 earnings guidance, though management actually raised the utility’s long-term growth projections. Worries about politics and fallout from California’s worst-ever wildfire season are still roiling some stocks.

But by and large, Conrad’s Utility Investor portfolio companies—as well as most of the broader Utility Report Card coverage universe—met or beat their guidance in Q4. And management teams laid out bullish outlooks for 2025 and beyond, including meaningful increases in investment for future growth.

Conrad's Utility Investor

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What sets renowned income-investing expert Roger Conrad apart from the pretenders? His more than two decades of covering utility stocks and essential services—a wealth of knowledge and experience that you can’t find anywhere else.   

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.

Subscribe today for instant access to a treasure trove of investment insight and knowledge, as well as Roger’s exclusive model Portfolios and ratings of more than 200 essential services.

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