TSX runs higher on rate cut expectations
Reaves Utility Income Fund stock reached a significant milestone by hitting a 52-week high of 37.49 USD. This achievement reflects a robust performance over the past year, with the stock delivering an impressive 40.47% total return. With a market capitalization of $3.3 billion and an attractive 6.47% dividend yield, the fund has maintained consistent dividend payments for 22 consecutive years, according to InvestingPro data. The fund, known for its focus on utility stocks, has benefited from favorable market conditions and investor interest in stable, income-generating assets. With a beta of 0.8 and a P/E ratio of 4.4, this 52-week high underscores the fund’s ability to navigate the current economic landscape and deliver substantial returns to its shareholders. InvestingPro subscribers have access to 7 additional key insights about this fund’s performance and outlook.
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