The utilities sector is living in the shadows of mega-cap tech, but a power player name is emerging — and it's toting year-to-date gains of more than 40%.
Constellation Energy , headquartered in Baltimore, is the top winner in the utilities sector in 2024, with NRG Energy in a distant second place with a 22.7% advance.
Indeed, the utilities sector and real estate are the two laggards of the S & P 500 , down about 1% and 3.5% in 2024, respectively.
CEG XLU 1Y line Constellation Energy versus the Utilities Select Sector SPDR Fund over the past year Constellation, which currently has a dividend yield of 0.8%, isn't your father's utility.
So-called 24/7 carbon-free power involves purchasing electricity generation from the same region where a corporate client will use it.
Persons:
it's, CEG, James Thalacker, It's, Daniel Eggers, Sophie Karp, BMO's, Joseph Dominguez, Steve Fleishman, Ross Fowler
Organizations:
Constellation Energy, NRG Energy, Utilities, SPDR Fund, BMO Capital, Atlantic City Electric, Baltimore Gas and Electric, Delmarva Power, Constellation, Microsoft, Wolfe Research, Republican, UBS
Locations:
Baltimore, Virginia