Infrastructure investors have had their share of pain over the past few years, particularly in developing countries. Aside from worries about the safety and stability of the investment itself,...
The Top Utility Stocks
A review of total shareholder returns shows how growth and merger strategies drove performance last year.
long-term investment bets with companies in the combined growth-recovering group either won or lost depending on the stocks they purchased (and held). If they won, their reward was better than average returns ( i.e., traditionalist). If they lost with an investment in a recovering company over the hold period, investors ended up with lower or negative returns.
1. To be included in this analysis, a company had to provide electric power services to regulated energy end-use customers. We excluded those companies that had an equity market capitalization of less than $500 million, as well as companies in the midst of bankruptcy proceedings ( e.g., Calpine).
2. The one-year period measured returns in 2005, the three-year period measured returns for 2003-2005, and the five-year return measured returns over the 2001-2005 period. Each year reflected Jan. 1 through Dec. 31.