Last week I started a new position in utility company. I purchased 23 shares of Emera (EMA.TO) for $42.65 per share. Emera is serving customers in Canada, the U.S, and the Caribbean.
Utility sector will be under pressure for a while because of the interest rates slowly going up. Since my exposure to utilities is very small, it’s a good opportunity for me to pick up great utility companies such as Emera, Canadian Utilities, and Fortis. Utility stocks are down 15% to 20% from their highs and trade at historically low valuations.
What are your thoughts about the utility sector? Would you buy them right now or wait for better entry points?
