1219 days ago • Posted by William Ramstein
For full year 2020, utilities dropped 9.9% on average, compared to gains of 16.3% for the S&P 500 and 43.6% for the Nasdaq Composite. Within the energy and water utility sector coverage universe, the electric and water groups gained 2.0% and 4.6%, respectively, while the gas and multi-utility groups both slipped 0.9%. In full year 2020, electric, gas and multi-utilities fell 14.1%, 18.6% and 8.2%, respectively, while water utilities closed the year up 4.3%. Looking ahead to the fourth-quarter earnings season, energy and water utility quarterly earnings are projected to decrease an average of 4.5% year over year, according to S&P Capital IQ consensus estimates, although individual companies vary widely. - Charlotte Cox
