Dow Jones

Nice Work If You Can Get It

Rate of Return for Fun and Profit

If you want actionable intelligence up front, here it is: invest in regulated utilities. There is mounting evidence that investment in utility stocks has outperformed the broader market in the past, and will continue to do so.

Utility Capital in the Twenty-First Century

What FERC might learn from Thomas Piketty and his best-selling book on wealth and income.

Thomas Piketty’s best-selling book, “Capital in the Twenty-First Century,” shows why utility transmission owners should not enjoy excessive returns.

The Race to Consolidate

Positioning to win in the contest for scale.

The industry’s slow-and-steady pace of mergers seems to be picking up speed, as larger and well-positioned players overtake smaller and weaker targets. Realizing the greatest value from consolidation requires companies to assess their strengths and weaknesses and focus on performance improvement—both before and after a deal gets done.

The Importance of Being Sustainable

Doing the right thing can drive utility stock performance.

Utilities get little credit for their efforts to strengthen the sustainability of their businesses. But these efforts have paid dividends in stock performance, capital costs, regulatory relationships, and brand value. Capturing the greatest value for shareholders will require utilities to become better understood as socially responsible enterprises.