Infrastructure

Utilities Catch Downgrades as Recession Realities and Dividend Risks Set In

Dominion Energy Inc. (NYSE: D) was up 7% at $72.15, in a 52-week range of $57.79 to $90.89. The former consensus target price is $87.73, and the yield is 5.6%. Barclays maintained its Overweight rating but lowered its target price to $74 from $93.

Duke Energy Corp. (NYSE: DUK) was up over 6% at $79.67, in a 52-week range of $62.13 to $103.79. The former consensus target price is $104.80, and the yield is 5.1%. Duke Energy was maintained as Equal Weight but its target was cut to $79 from $104.

Edison International (NYSE: EIX) traded up 8% at $58.12, in a 52-week range of $43.63 to $78.93. The former consensus target price is $81.08, and the yield is 4.7%. Barclays maintained it as Equal Weight and cut its target to $52 from $68.

Eversource Energy (NYSE: ES) was trading up 5% at $75.15, in a 52-week range of $60.69 to $99.42. The former consensus target price is $93.00, and the yield is 3.2%. The stock was maintained as Equal Weight at Barclays, which cut its target from $96 to $74.

Exelon Corp. (NASDAQ: EXC) was up 3% at $35.69, in a 52-week range of $29.28 to $51.18. The former consensus target price is $54.53, and the yield is 4.4%. Barclays maintained its Overweight rating but cut its target to $39 from $50.

FirstEnergy Corp. (NYSE: FE) was up 6% at $37.78, in a 52-week range of $32.00 to $52.52. The former consensus target price is $52.31. The yield is 4.4%. Barclays kept its Overweight rating and cut its target to $42 from $54 on Thursday, but Morgan Stanley had raised its rating to Overweight while cutting its target to $41 from $50 on March 23. On March 16, Argus raised its rating to Buy from Hold with a $44 target price.

NextEra Energy Inc. (NYSE: NEE) was up nearly 5% at $220.10, in a 52-week range of $174.80 to $283.35. The former consensus target price is $262.19. The yield is 2.7%. NextEra Energy, the first and only utility to ever have reached a $100 billion market cap, was maintained as Equal Weight at Barclays, but the firm cut its target to $220 from $269.

NiSource Inc. (NYSE: NI) traded up nearly 7% at $24.35, in a 52-week range of $19.56 to $30.67. The former consensus target price is $30.25. The yield is 3.7%. Barclays maintained it as Equal Weight but lowered its target to $124 from $152.

OGE Energy Corp. (NYSE: OGE) was trading up 3% at $30.02, in a 52-week range of $23.01 to $46.43. The former consensus target price is $40.67. The yield is 5.7%. Despite maintaining its Equal Weight rating, Barclays slashed its target price to $28 from $38.

PG&E Corp. (NYSE: PCG) was up 10% at $10.18, with a 52-week range of $3.55 to $25.19. The former consensus target price is $14.50. Of course, PG&E pays no dividend and is effectively now a ward of the State of California. That said, Barclays maintained its Equal Weight rating and slashed its target to $9 from $15.

Sempra Energy (NYSE: SRE) was up 8% at $123.30, with a 52-week range of $88.00 to $161.87. The former consensus target price is $143.13, and the yield is 3.5%. Barclays maintained it as Overweight while cutting its target price from $152 to $124.

Southern Co. (NYSE: SO) was up 6% at $53.33, in a 52-week range of $41.96 to $71.10. The former consensus target price is $66.64, and the yield is 5.0%. Barclays kept it as Equal Weight but cut its target to $51 from $67.

Remember, no singe analyst call should be used as a basis to buy or sell any stock.

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