Utilities have led SPX in the past month, here's why insiders are piling in: Highlights from the first 3 reports of top 15 giants
In the past month, the Utilities sector (XLU) have outperformed the SPX by nearly 8ppt. Now, three of the top 15 companies have reported for Q1, showing that the Utilities sector are at a crossroads.
So far, three major players in the utilities sector—NextEra Energy, PG&E Corporation, and Duke Energy—have reported for Q1'24, revealing their strategic directions, operational challenges, and financial performances. Comments from the earnings calls foreshadow evolving energy demands and technological advancements. This has not gone unnoticed by insiders, where we find a 24% surge in net insider activity in the past month, along with a number of other positive metrics.
