Today, we’re looking at a humble utility company that’s posting big, steady gains…
The utilities sector is known for its safety. Electricity or water companies often face little or no competition… and sell products that customers can’t do without. Revenues are predictable, and profit margins – though limited – are regularly government-guaranteed.
DTE Energy (DTE) provides electricity and natural gas to homes and businesses in Michigan.
That’s not very exciting. But its $400 million profit in the most recent quarter – up 11% from this time last year – is good news for investors.
The company has also paid dividends for more than a century, with shares currently yielding about 3%.
The company’s performance has been strong in recent years.
While it hasn’t been a one-way trip, shares are up roughly 70% over the past five years… And they recently hit a new all-time high. The utilities sector doesn’t just mean safety – it means healthy returns, too…
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Source: Daily Wealth’s Market Notes