Some investors say utilities also may be benefiting from hopes that there will be a bigger push toward green energy under the Biden Administration. President Joe Biden is expected to unveil next week a multitrillion-dollar plan to rebuild America’s infrastructure that may also tackle climate change.
Some investors say utilities also may be benefiting from hopes that there will be a bigger push toward green energy under the Biden Administration. President Joe Biden is expected to unveil next week a multitrillion-dollar plan to rebuild America’s infrastructure that may also tackle climate change. The gains in utilities have come amid a rotation from technology and other growth stocks into so-called value stocks. The Nasdaq Composite has fallen in March after four straight months of gains.
After a weak performance in 2020, utilities “are just really, really cheap at the moment,” Hurst said. “And that is an attractive place to be when you’re in a market that’s very much earnings driven.”