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The utility sector clocks in its best weekly gains of the year

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XLU gains big

The Utilities Select Sector SPDR (XLU) generated its best weekly gains in 2014 last week. XLU was up by 3.6% for the week ending December 26. The power utility sector has been one of the best-performing sectors on Wall Street this year. XLU’s shares have gained 28.4% since the beginning of 2014.

For the week ending December 26, the power utility sector outperformed the benchmark index by as much as four times. The SPDR S&P 500 ETF Trust (SPY) gained 0.9% for the week.

Top weekly gainers

As the above table shows, MGE Energy (MGEE) was the biggest gainer in the power sector for the week ending December 26. MGE Energy gained 6.0% during the week. It was at $46.85 per share on December 26.

After MGE Energy, Northeast Utilities (NU) was the second-biggest gainer in the power utility industry for the week. Northeast Utilities gained 5.6% during the week ended December 26.

MGE Energy and Northeast Utilities are currently in a multiyear bull run. They’ve been setting new lifetime highs consistently this year. Both companies’ share prices hit new lifetime highs during the week.

AES Corporation (AES) and Teco Energy (TE) were the other top weekly gainers for the week ended December 26, 2014. The two companies were up by 5.3% each.

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