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February 25, 2023
Against the current: Markets slid, yet Edison International, PG&E Corporation, Ormat Technologies, Inc. went up and made this list of yesterday's top utilities stocks gainers.
Leading equity indices in the US declined as Nasdaq slipped 1.69% and closed at 11,400. Dow Jones closed at 32,817, a 1.02% change.
While price action maintains a negative bias, United States New Home Sales (Jan) released yesterday at 15:00 UTC with a figure of 670,000, while the previous figure was 625,000.
Despite markets falling yesterday, some utilities stocks managed to post gains. Have a look at these Top Gainers.
Edison International | Up 4.21% to $68.63 yesterday
The electricity supplier traded at $68.63 yesterday, after making its biggest single-day jump of $2.77 (4.21%) since Jan 4. 4 months ago, the electricity company fell to a low of $54.94 but has since recovered 19.88%. So far this year, it has performed better than the S&P 500 by 3.43%. Edison International's market cap is currently $26.21 billion with an average daily trading volume of 1.83 million shares.
Edison International released its quarterly earnings report Thursday, beating analysts estimates. The company reported earnings of 1.14 per share on revenue of $4 billion, topping estimates of 1.08 per share on revenue of $3 billion. Since the release of its earnings report, Edison International gained 3.67%.
Pacific Gas & Electric | Up 3.27% to $15.78 yesterday
The gas and electric company rallied 3.27% and maintained $15.78.
The company reported earnings of 0.26 per share Thursday, falling short of expectations of 0.28. Revenue was also lower than expected at $5.37 billion versus $5.50 billion. Although earnings did not match projections, Pacific Gas & Electric gained 1.68% since the release of its earnings report.
Ormat Technologies, Inc. | Up 1.31% to $83.52 yesterday
After closing at $82.44 on Thursday, Ormat Technologies, Inc. maintained a strong bullish bias that helped the stock close higher at $83.52 yesterday. However, market bears ensured the the renewable geothermal energy technology developer topped out at $84.82 and that by the end of the session, the market had marked out a distinct $80.28 to $84.82 range.
Ormat Technologies, Inc. released its quarterly earnings Wednesday, beating analysts estimates. The company reported earnings of 0.73 per share on revenue of $205.49 million, topping estimates of 0.48 per share on revenue of $199.33 million. Since the release of its earnings report, Ormat Technologies, Inc. lost 6.24%.
