Utility CEFs: UTG Outshines DNP With Lower Leverage But Better Returns

2026-01-04 13:17:29 ET

UTG and DNP: previous thesis and new catalysts

My last analysis on the Reaves Utility Income Trust (NYSE: UTG ) CEF was published on Nov 1. That article rated UTG as a HOLD and was triggered by the rate cut announced by the Federal Reserve in October due to the utility sector's sensitivity to borrowing rates. Since then, a few new catalysts have surfaced both in terms of macroeconomic parameters and also fund-specific changes. The rest of this article will focus on the top one in each category as I see. In terms of macroeconomics, I will analyze the impact of the latest rate cut announced by the Fed in December and the new rate outlook....

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