TSX runs higher on rate cut expectations
Reaves Utility Income Fund stock reached a new 52-week high, climbing to 36.26 USD, while offering investors an attractive 6.63% dividend yield. The fund has maintained consistent dividend payments for 22 consecutive years, according to InvestingPro data. This milestone reflects a significant upward trend for the company, which has seen its stock price increase by 36.74% over the past year, with a notable 17.46% gain year-to-date. The fund’s performance has been buoyed by strong investor confidence and a favorable market environment, trading at an attractive P/E ratio of 4.28. As the stock hits this new high, it marks a period of robust financial health and investor optimism for Reaves Utility Income Fund. InvestingPro analysis reveals several more key insights about the fund’s performance and outlook.
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