Utilities Stocks Down After Fed Statement - Utilities Roundup

Features Dow Jones Newswires

Shares of power-plant operators fell as Treasury yields rose in the wake of the Federal Reserve's policy statement. Fixed income investors often alternate between Treasurys and the dividend-paying stocks and any move higher in Treasury yields could be a lure away from the utility sector. Hurricane Maria made landfall on the Puerto Rico's southeast coast early Wednesday as a Category 4 storm. The storm looked set to knock out the island's fragile power grid, which was still recovering from the effects of Hurricane Irma and a bankruptcy filing by the utility that controls it. Shares of French utility Suez declined after analysts at brokerage Credit Suisse cut their rating on shares, saying likely lower margins at water and waste operations and other factors meant that "unrealistic growth expectations" were "priced in."

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-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

September 20, 2017 16:45 ET (20:45 GMT)