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Electric utilities

Utilities Sector Pushes Higher Amid Market Volatility

Strategic Insights

— 1 min read

The Utilities sector is experiencing a significant surge despite the broader market turmoil, with several top performers within the sector. As of July 22, 2015, the NYSE advances/declines ratio sits at 1,213 issues advancing vs. 1,780 declining with 156 unchanged. The Utilities sector currently sits down 0.2% versus the S&P 500, which is down 0.4%.

Key Takeaways:

  • PG&E Corporation (PCG), a top gainer in the sector, is up 0.8% to $51.02 on average volume, with 1.1 million shares exchanged as compared to its average daily volume of 2.8 million shares.
  • American Electric Power Company (AEP) is up 0.9% to $55.40 on average volume, with 1.4 million shares exchanged as compared to its average daily volume of 2.6 million shares.
  • Consolidated Edison (ED) is up 1.0% to $62.11 on average volume, with 1.2 million shares exchanged as compared to its average daily volume of 2.3 million shares.
  • TheStreet Ratings rates PG&E, AEP, and ED as buys, highlighting their strengths in revenue growth, good cash flow from operations, and attractive valuation levels.
  • The Utilities Select Sector SPDR (XLU) is a popular ETF option for investors bullish on the sector, while the ProShares UltraShort Utilities (SDP) is an option for those bearish on the sector.
  • The top gainers within the sector include NRG Energy (NRG), Xcel Energy (XEL), NextEra Energy (NEE), and Dominion Resources (D), while the top decliners include Korea Electric Power (KEP), Huaneng Power International (HNP), and Enersis (ENI).
  • Currently, there are 6 analysts rating PG&E a buy, 8 analysts rating AEP a buy, and 1 analyst rating ED a buy, with no analysts rating these companies a sell.

Statistics:

  • The Dow Jones Industrial Average (DJI) is trading down 83 points (-0.5%) at 17,836 as of July 22, 2015, 12:55 PM ET.
  • The NYSE advances/declines ratio sits at 1,213 issues advancing vs. 1,780 declining with 156 unchanged.
  • The Utilities sector currently sits down 0.2% versus the S&P 500, which is down 0.4%.
  • As of noon trading, PG&E is up $0.42 (0.8%) to $51.02, AEP is up $0.52 (0.9%) to $55.40, and ED is up $0.63 (1.0%) to $62.11.

Sources:

  • TheStreet
  • TheStreet Ratings
  • Yahoo Finance
  • Bloomberg

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