PMBPF - GUT: Finances Appear To Be Improving But Shares Are Ludicrously Expensive

• Utilities in general are fairly good investments for retirees due to their stability and relatively high level of dividends.
• Utilities have underperformed the market over the past year, although NextEra Energy has done a better job at keeping up.
• Electric utilities are favored by some due to the electrification trend, but EIA data says that this trend may be overblown.
• The fund failed to cover its distributions in FY 2020 but it did manage to succeed in 2019, which could be a beacon of hope for 2021.
• The shares are ludicrously expensive, trading at almost double the underlying NAV.

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