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Utilities: Rotation or Recession They’re Ready to Win
Despite a late-year rally, utility stocks were among the stock market’s worst performers in 2023. That’s about to change with a vengeance—whether the New Year brings a rising market with rapid sector rotation from bloated Big Tech, or a US recession and sell-off. The utility earnings Armageddon many predicted would result from rising interest rates never happened. Now rates are headed lower, and investment is set to keep driving growth. And best-in-class utilities earnings, dividends, and stock prices are gearing up for potentially their biggest year since 2000—when the Dow Jones Industrial Average returned more than 50%. Join 37-year industry veteran Roger Conrad as he highlights his top utility picks for 2024—as well as what to avoid.
Roger Conrad has advised income investors since the 1980s and is nationally recognized for his expertise in utilities, telecommunications, and energy. He is managing partner at Capitalist Times and author of Power Hungry. Mr. Conrad also serves as an independent director of the NYSE-listed Miller/Howard high-income equity fund and is a contributing editor to Forbes.com.
