Optimistic outlook for utility sector

TheStar Thu, Dec 08, 2022 07:00am - 1 year View Original


TNB is Kenanga Research's top pick for the sector.

PETALING JAYA: The outlook for the utility sector in the year ahead remains positive, with earnings resilience backed by regulated assets for power and gas utility companies.

The earnings defensiveness of the utility industry, in turn, is expected to support decent dividend yields, thus rendering the sector an attractive investment area for yield seekers.

According to Kenanga Research, the regulated assets, which generate recurring cash flows for the utility sector, could anchor dividend yields of 4% to 6%. As such, the brokerage maintained its “overweight” rating on the utility sector.

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