Do you prefer defensive sectors such as utilities? If so, here's a list you might find interesting.
We ran a screen on the utilities sector for stocks with strong performance, trading within 5% of their 52-week highs. We then screened for those with strong buying from hedge funds, with strong net institutional purchases over the current quarter.
Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.
We also created a price-weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month. To access a complete analysis of this list's recent performance, click here.
Do you think these stocks will break through to new highs? Use this list as a starting point for your own analysis.
1. Brookfield Infrastructure Partners L.P. (NYSE:BIP): Operates in the utilities, transport and energy, and timber sectors. The stock is trading 0.57% below its 52-week high. Net institutional purchases in the current quarter at 12.4M shares, which represents about 7.61% of the company's float of 163.05M shares.
2. Clean Energy Fuels Corp. (NASDAQ:CLNE): Provides natural gas as an alternative fuel for vehicle fleets in the United States and Canada. The stock is trading 4.87% below its 52-week high. Net institutional purchases in the current quarter at 1.9M shares, which represents about 3.53% of the company's float of 53.82M shares.
3. Central Vermont Public Service Corp. (NYSE:CV): Operates as an electric utility company in Vermont, the United States. The stock is trading 2.03% below its 52-week high. Net institutional purchases in the current quarter at 404.8K shares, which represents about 3.3% of the company's float of 12.28M shares.
*Institutional data sourced from Fidelity, all other data sourced from Finviz.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.