The utilities sector suffered so much in 2023, that it's due for a snapback in the new year, according to Barclays.
They also made the stocks' dividend payments less attractive compared to the risk-free yields on Treasurys.
But now these stocks are priced to move, according to Barclays analyst Nicholas Campanella.
"We still like the stock," Barclays said, pointing to upside to consensus earnings per share as one of the factors behind its call.
Duke offers a dividend yield of 4.2%, but 12 out of the 20 analysts following the stock rate it a hold, per LSEG.
Persons:
Nicholas Campanella, XLU, Campanella, Evergy, — CNBC's Michael Bloom
Organizations:
Barclays . Utilities, Barclays, SPDR, Fed, Electric Power, Dominion Energy, E Corporation, Duke Energy, Duke
Locations:
Kansas, Kansas City