Top gainers of 2019
Let’s take a look at top rallying utilities in this part. AES Corporation (AES) stock continued last year’s uptrend in 2019 as well. It is up approximately 24% so far this year. It reported better-than-expected fourth-quarter earnings last month. The Utilities Select Sector SPDR ETF (XLU) is up 9% in the same period.
Regulated utility giant Southern Company (SO) is among top gainers, up about 16% YTD. A deep market-wide fall in the last week of December last year likely created an opportunity for investors, which boosted utilities. Investors’ flight to safety amid broader market volatility recently boosted top-yielding stocks. Southern Company is trading at a yield of 4.8%, one of the highest among top utilities (XLU).
Sempra Energy (SRE) stock is up about 14%, while Public Service Enterprise Group (PEG) has rallied more than 13% so far this year. Top utility stocks such as Duke Energy (DUK) and Exelon (EXC) have gained more than 5% and 8%, respectively, in the same period.
Up next, let’s see what price target Wall Street analysts have given to these utilities for the next 12 months.