Soaring bond yields have made the stocks less appealing. Plus, the market expects investments for new power plants, aging infrastructures, and renewable technologies to cost more as interest rates stay higher for longer.
Power plant employees at Cayuga Station, Edwardsport Station and Gibson Station are awarding $60,000 in Duke Energy Foundation grants to eight charitable organizations in the communities where they live and work.
Monday wasn't a good day to have utilities in a stock portfolio. Among the sector's decliners on the day were Duke Energy (NYSE: DUK), Dominion Energy (NYSE: D), and NextEra Energy (NYSE: NEE). It's relatively straightforward to predict a great many financial metrics for utilities, since they are all subject to rate caps and tend to have a customer base that grows slowly, at best.