Though many investors have allocated assets to the Utilities sector in search of yield in a low interest rate environment, we believe that the sector faces many risks, driven by a threat to demand. This white paper walks through many of the current risks we see to Utility sector stock valuations. Though we cannot predict when the impact will be felt on U.S. utility companies, we do not believe it will be much longer, and the results may be dramatic.

Download: Electric Utilities: Perhaps not the Investment One Expects Dec 2014