Cramer likes three utilities amid debt disaster

Jim Cramer touts three dividend yielding utilities as the strongest bounceback candidates in the event of a U.S. default.

Dominion's (D +0.2%) strong core utility business allows for the continued increase in dividends, Cramer says, and an MLP spinoff will bring in lots of cash.

ConEdison (ED +1.5%) is a stock Cramer believes is somewhat insulated from the D.C. debacle simply because it services the New York metro area.

He likes Southern Company's (SO +1.4%) "long-term history of paying the dividend through the toughest times imaginable... they get the sanctity of the dividend better than just about any other utility."

Separately, New York Gov. Cuomo calls on the state's Public Service Commission to reject ED’s request for a rate hike next year.

Utilities are generally higher today as investors avoid riskier bets amid shutdown and default nervousness.

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Comments (3)
  • wapiti
    , contributor
    Comments (711) | Send Message
    Cramer liked ULTA, TSLA, FB yesterday. Talks out of 18 sides of his mouth
    8 Oct 2013, 03:07 PM Reply Like
  • magi48
    , contributor
    Comments (440) | Send Message
    Cramer is the car salesman of stocks. He gets you to buy what you may not ever need. He makes his living on volume sales.
    9 Oct 2013, 02:07 PM Reply Like
  • Chrysalisrn
    , contributor
    Comments (4) | Send Message
    Ditto, wapiti. Contradicted himself regarding HIMX.
    10 Oct 2013, 09:23 AM Reply Like
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