Utilities, beloved for their dividend payments, are under pressure in today's high rate environment, but a few gems stand out in the tarnished sector, according to Bank of America.
The sector has suffered through 2023, shedding 16%, as the Federal Reserve continues to roll out its policy-tightening campaign.
But there are a few opportunities in the sector, even as Bank of America says utilities aren't particularly compelling now.
Both are also deemed top buys by Bank of America.
PG & E has a California rate case development coming on Nov. 2, when the California Public Utilities Commission will be meeting.
Persons:
Julien Dumoulin, Smith, ConEd, Michael Bloom
Organizations:
Bank of America, Federal Reserve, Consolidated Edison, E Corporation, PPL Corporation, California Public Utilities Commission, Kentucky Public Service Commission, PPL
Locations:
California, Kentucky