Other electric utes making new highs: NU, ALE, UNS, POR, CNL. Most compelling are ALE which broke $38 major resistance dating back to April of last year (see below chart), and UNS which broke $37 resistance. All of these companies sport dividend yields in the 3-5% range, and except for CNL and NU, the rest are well off their previous highs.
Electric utilities doing well today on the heels of PNM today raising FY11 guidance citing a shift in more favorable rate legislation. The stock is up 7% on 2x volume.