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BlackRock Utility&Infrastructure TrustNYSE
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  • Mon, Nov. 14, 12:03 PM
    • The bond market took the day off on Friday, but is back to work today and headed lower again. The 10-year Treasury yield is up five basis points to 2.205% (it ran all the way up to 2.28% earlier).
    • The S&P 500 is down just a hair, but he XLU is lower by 0.6%.
    • Among the large-cap utility movers are Dominion Resources -1.15%, Duke Energy -1.15%, Con Ed -1.2%, National Grid -3.7%, Sempra Energy -1.5%, Southern Co. -0.75%. Fading the downward action are Exelon +1.6% and Ameren +0.75%.
    • ETFs: XLU, UTG, IDU, VPU, GUT, BUI, FUTY, RYU, UPW, FXU, SDP, FUGAX, JHMU, UTLF
    | Mon, Nov. 14, 12:03 PM | 1 Comment
  • Fri, Nov. 4, 12:28 PM
    • Companies that sell electricity to utilities have reported slim profits or losses for Q3 compared to a year ago, as they continue to be hurt by falling prices for wholesale power and natural gas.
    • NRG Energy's (NRG +13%) Q3 net earnings fell by $203M, due to lower energy margins and costs related to paying down debt, on 11% less revenue of $3.95B; CEO Mauricio Gutierrez says its generation business "performed well during some very challenging market conditions."
    • Dynegy (DYN +8.6%) posted a Q3 loss of $249M, a 10x larger loss than in the year-ago quarter, saying it aims to navigate the low prices by buying plants and streamlining operations as well as ramping up lobbying efforts with regulators, including opposing New York's plan to subsidize money-losing nuclear power plants to keep them operating.
    • Calpine (CPN +2.7%) last week reported Q3 net earnings of $295M, up 8% Y/Y, but net profit for the first nine months of the year was just $68M, down 76% Y/Y.
    • Exelon (EXC +0.7%) has been faring better than some rivals since it also owns regulated utilities, which offer more stable profits.
    • "It's an adverse environment because of the low gas prices, and it's aggravated by the growth of renewables," says Hugh Wynne at investment research firm SSR.
    • ETFs: XLU, UTG, IDU, VPU, GUT, BUI, FUTY, RYU, UPW, FXU
    | Fri, Nov. 4, 12:28 PM | 4 Comments
  • Wed, Nov. 2, 12:53 PM
    • BlackRock Resources and Commodities Strategy Trust (NYSE:BCX) - of $0.0446.
    • BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) - of $0.0467.
    • BlackRock Energy and Resources Trust (NYSE:BGR) - of $0.0776.
    • BlackRock International Growth and Income Trust (NYSE:BGY) - of $0.0380.
    • BlackRock Health Sciences Trust (NYSE:BME) - of $0.2000.
    • BlackRock Enhanced Capital and Income Fund (NYSE:CII) - of $0.0828.
    • BlackRock Global Opportunities Equity Trust (NYSE:BOE) - of $0.0780.
    • BlackRock Utility and Infrastructure Trust (NYSE:BUI) - of $0.1210.
    • BlackRock Science and Technology Trust (NYSE:BST) - of $0.1000.
    • Payable Nov. 30; for shareholders of record Nov. 15; ex-div Nov. 10.
    • Press Release
    | Wed, Nov. 2, 12:53 PM
  • Thu, Oct. 27, 10:51 AM
    • Rates are up across the globe again today, with the 10-year U.S. Treasury yield looking like it's ready for another assault on 2% - up 7 basis points on the session to 1.865%.
    • Alongside a sharp move lower in REITs, the utility sector (XLU -0.9%) is facing a rough go of it.
    • In the green though is the banking sector - (KBE +0.2%), (KRE +0.4%) - which has been awaiting a real move higher in rates for years. A big move on the long end while short rates hold (for now) is an added boost as it widens the yield curve.
    • Bank of America (BAC +0.4%), Citigroup (C +0.4%), JPMorgan (JPM +0.4%), Wells Fargo (WFC +0.5%), PNC Financial (PNC +0.5%), Fifth Third (FITB +0.9%), U.S. Bancorp (USB +1.2%), BB& T(BBT +0.7%)
    • Other high-yield beneficiaries include: MetLife (MET +0.9%), Lincoln Financial (LNC +1.3%), Schwab (SCHW +0.4%), Voya Financial (VOYA +0.9%).
    • ETFs: XLF, FAS, FAZ, XLU, UTG, IDU, VPU, UYG, VFH, GUT, BUI, IYF, BTO, FUTY, IYG, FNCL, SEF, RYU, FXO, UPW, RYF, FXU, FINU, RWW, SDP, XLFS, FINZ, FUGAX, JHMF, FAZZ, FNCF, JHMU, UTLF
    | Thu, Oct. 27, 10:51 AM | 2 Comments
  • Wed, Oct. 12, 8:34 AM
    • The amount of electricity generated by U.S. nuclear reactors hit its lowest seasonal level since 2006, held down by malfunctions and closures tied to Hurricane Matthew as well as routine maintenance.
    • The outages mean natural gas use by generators likely will rise as grid operators rush to replace lost supplies at a time of unseasonably warm temperatures, which could boost power prices.
    • Among the plants shuttered was Dominion's (NYSE:D) Surry 2 nuclear power plant in Virginia, which closed due to a system error, and NextEra Energy's (NYSE:NEE) St. Lucie 2 reactor in Florida, which went offline as a safety measure ahead of the hurricane.
    • The closures come as 23 nuclear units, accounting for ~23% of total U.S. capacity, are scheduled to close to replace spent fuel rods in the three months through November.
    • ETFs: XLU, UTG, IDU, VPU, GUT, BUI, FUTY, RYU, UPW, FXU, SDP
    | Wed, Oct. 12, 8:34 AM | 1 Comment
  • Tue, Oct. 4, 7:19 AM
    • BlackRock Resources and Commodities Strategy Trust (NYSE:BCX) - of $0.0446.
    • BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) - of $0.0467.
    • BlackRock Energy and Resources Trust (NYSE:BGR) - of $0.0776.
    • BlackRock International Growth and Income Trust (NYSE:BGY) - of $0.0380.
    • BlackRock Health Sciences Trust (NYSE:BME) - of $0.2000.
    • BlackRock Enhanced Capital and Income Fund (NYSE:CII) - of $0.0828.
    • BlackRock Global Opportunities Equity Trust (NYSE:BOE) - of $0.0780.
    • BlackRock Utility and Infrastructure Trust (NYSE:BUI) - of $0.1210.
    • BlackRock Science and Technology Trust (NYSE:BST) - of $0.1000.
    • Payable Oct. 31; for shareholders of record Oct. 14; ex-div Oct. 12.
    • Press Release
    | Tue, Oct. 4, 7:19 AM | 2 Comments
  • Tue, Sep. 13, 8:02 AM
    • BlackRock Resources and Commodities Strategy Trust (NYSE:BCX) distribution of $0.0446.
    • BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) distribution of $0.0467.
    • BlackRock Energy and Resources Trust (NYSE:BGR) distribution of $0.0776.
    • BlackRock International Growth and Income Trust (NYSE:BGY) distribution of $0.0380.
    • BlackRock Health Sciences Trust (NYSE:BME) distribution of $0.2000.
    • BlackRock Enhanced Capital and Income Fund (NYSE:CII) distribution of $0.1000.
    • BlackRock Global Opportunities Equity Trust (NYSE:BOE) distribution of $0.0780.
    • BlackRock Utility and Infrastructure Trust (NYSE:BUI) distribution of $0.1210.
    • BlackRock Science and Technology Trust (NYSE:BST) distribution of $0.1000.
    • Payable Sept. 30; for shareholders of record Sept. 15; ex-div Sept. 13.
    • Press Release
    | Tue, Sep. 13, 8:02 AM | 1 Comment
  • Thu, Aug. 11, 1:48 PM
    • BlackRock Resources and Commodities Strategy Trust (NYSE:BCX) distribution of $0.0446.
    • BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) distribution of $0.0467.
    • BlackRock Energy and Resources Trust (NYSE:BGR) distribution of $0.0776.
    • BlackRock International Growth and Income Trust (NYSE:BGY) distribution of $0.0380.
    • BlackRock Health Sciences Trust (NYSE:BME) distribution of $0.2000.
    • BlackRock Enhanced Capital and Income Fund (NYSE:CII) distribution of $0.1000.
    • BlackRock Global Opportunities Equity Trust (NYSE:BOE) distribution of $0.0780.
    • BlackRock Utility and Infrastructure Trust (NYSE:BUI) distribution of $0.1210.
    • BlackRock Science and Technology Trust (NYSE:BST) distribution of $0.1000.
    • Payable Aug. 31; for shareholders of record Aug. 15; ex-div Aug. 11.
    • Press Release
    | Thu, Aug. 11, 1:48 PM
  • Mon, Jul. 11, 1:14 PM
    • BlackRock Resources and Commodities Strategy Trust (NYSE:BCX) distribution of $0.0446.
    • BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) distribution of $0.0467.
    • BlackRock Energy and Resources Trust (NYSE:BGR) distribution of $0.0776.
    • BlackRock International Growth and Income Trust (NYSE:BGY) distribution of $0.0380.
    • BlackRock Health Sciences Trust (NYSE:BME) distribution of $0.2000.
    • BlackRock Enhanced Capital and Income Fund (NYSE:CII) distribution of $0.1000.
    • BlackRock Global Opportunities Equity Trust (NYSE:BOE) distribution of $0.0780.
    • BlackRock Utility and Infrastructure Trust (NYSE:BUI) distribution of $0.1210.
    • BlackRock Science and Technology Trust (NYSE:BST) distribution of $0.1000.
    • Payable July 29; for shareholders of record July 15; ex-div July 13.
    • Press Release
    | Mon, Jul. 11, 1:14 PM
  • Mon, Jun. 27, 7:27 PM
    • One of the biggest Brexit beneficiaries is the utilities sector, as the Dow Jones Utility Average and the SPDR Utilities Select Sector ETF both surged to new record highs as Treasury yields tumble to multiyear lows.
    • The implied annual dividend yield for the Dow utilities is 3.08% and 3.18% for the utilities ETF, more than double the 10-year Treasury yield.
    • J.P. Morgan equity strategists said today that they believe bond yields "are not going anywhere but lower,” and thus remain overweight on the utilities sector.
    • At least six Dow utilities components posted record closes: NEE +3.3%, EIX +2.5%, AWK +2.4%, ED +1.9%, AEP +1.8%, PCG +0.8%.
    • Among other major utilities in today's trade: SO +1.9%, DUK +1.9%, SCG +1.6%, ETR +1.1%, D +1%, AEE +1%, XEL +0.9%, SRE +0.9%, PEG +0.7%, FE +0.7%, EXC +0.6%.
    • ETFs: XLU, UTG, IDU, VPU, GUT, BUI, FUTY, RYU, UPW, FXU, PUI, SDP, PSCU
    | Mon, Jun. 27, 7:27 PM | 36 Comments
  • Fri, Jun. 24, 10:30 AM
    • A sharp drop in long-term rates and vanquished expectations for even one rate hike this year has income players bidding up the prices of utility stocks (XLU +0.7%) and certain REITs even as the major average fall more than 2% post-Brexit.
    • A check of Fed Funds futures finds traders not fully pricing in a 25 basis point rate hike until 2018!
    • The mortgage REIT sector (REM +0.5%) welcomes the news, with players like Annaly (NLY +1.7%), American Capital Agency (AGNC +1.1%), Two Harbors (TWO +1.7%), and Chimera (CIM +1.3%) leading the way. Western Asset Mortgage (WMC -0.8%) is a laggard after slashing its dividend by more than 30% last night.
    • Equity REITs are decidedly mixed. Retail names like Realty Income (O +2.4%), National Retail (NNN +2%), and Vereit (VER +0.9%) are higher, as are healthcare players like HCP (HCP +1.2%) and Medical Properties Trust (MPW +0.1). Apartment REITs are mostly lower, as are mall operators like Simon Property (SPG -0.8%) and General Growth (GGP -0.7%).
    • The dollar is surging post-Brexit, however, and that's taking a chunk out of the hotel REITs: Hospitality Properties (HPT -1.5%), Sunstone Hotel (SHO -2.7%), LaSalle (LHO -3.8%), Pebblebrook (PEB -2.4%), RLJ Lodging (RLJ -2.5%).
    • ETFs: XLU, UTG, IDU, VPU, GUT, BUI, FUTY, RYU, UPW, FXU, PUI, SDP, PSCU, FUGAX, UTLF, JHMUVNQ, IYR, DRN, RQI, URE, SCHH, ICF, RWR, SRS, RNP, RFI
    | Fri, Jun. 24, 10:30 AM | 43 Comments
  • Tue, Jun. 7, 1:11 PM
    • BlackRock Resources and Commodities Strategy Trust (NYSE:BCX) distribution of $0.0446.
    • BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) distribution of $0.0467.
    • BlackRock Energy and Resources Trust (NYSE:BGR) distribution of $0.0776.
    • BlackRock International Growth and Income Trust (NYSE:BGY) distribution of $0.0490.
    • BlackRock Health Sciences Trust (NYSE:BME) distribution of $0.2000.
    • BlackRock Enhanced Capital and Income Fund (NYSE:CII) distribution of $0.1000.
    • BlackRock Global Opportunities Equity Trust (NYSE:BOE) distribution of $0.0970.
    • BlackRock Utility and Infrastructure Trust (NYSE:BUI) distribution of $0.1210.
    • BlackRock Science and Technology Trust (NYSE:BST) distribution of $0.1000.
    • Payable June 30; for shareholders of record June 15; ex-div June 13.
    | Tue, Jun. 7, 1:11 PM | 1 Comment
  • Fri, Jun. 3, 10:12 AM
    | Fri, Jun. 3, 10:12 AM
  • Thu, May 12, 12:51 PM
    • BlackRock Resources and Commodities Strategy Trust (NYSE:BCX) announces monthly distribution of $0.0446.
    • BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) announces monthly distribution of $0.0467.
    • BlackRock Energy and Resources Trust (NYSE:BGR) announces monthly distribution of $0.0776.
    • BlackRock International Growth and Income Trust (NYSE:BGY) announces monthly distribution of $0.0490.
    • BlackRock Health Sciences Trust (NYSE:BME) announces monthly distribution of $0.2000.
    • BlackRock Enhanced Capital and Income Fund (NYSE:CII) announces monthly distribution of $0.1000.
    • BlackRock Global Opportunities Equity Trust (NYSE:BOE) announces monthly distribution of $0.0970.
    • BlackRock Utility and Infrastructure Trust (NYSE:BUI) announces monthly distribution of $0.1210.
    • BlackRock Science and Technology Trust (NYSE:BST) announces monthly distribution of $0.1000.
    • Payable May 31; for shareholders of record May 16; ex-div May 12.
    | Thu, May 12, 12:51 PM | 3 Comments
  • Wed, May 4, 3:29 PM
    • Of particular interest given he's on stage at Ira Sohn following hard-money advocate Stan Druckenmiller (hike rates, but gold), Jeff Gundlach thinks the idea of the Fed talking about higher rates while cutting growth forecasts makes no sense.
    • He's got a pair trade idea: Buy mortgage REITs (NYSEARCA:REM) and sell utilities (NYSEARCA:XLU). The strategy is based on the idea that the valuations of unloved and "cheap" mREITs, and over-loved and "pricey" utilities will converge.
    • Low-volatility stocks (of which utilities fit the bill) are an oxymoron, says Gundlach. Buying at these prices is like the old game "Dynamite Shack."
    • Live blog
    • Utility ETFs: XLU, UTG, IDU, VPU, GUT, BUI, FUTY, RYU, UPW, FXU, PUI, SDP, PSCU, FUGAX
    • Mortgage REIT ETFs: MORL, REM, MORT
    • Previously: Bill Gross: Go long helicopter makers (May 4)
    | Wed, May 4, 3:29 PM | 11 Comments
  • Tue, Apr. 12, 6:17 PM
    • BlackRock declares dividend on Equity Funds BlackRock Resources and Commodities Strategy Trust (NYSE:BCX) announces monthly distribution of $0.0446.
    • BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) announces monthly distribution of $0.0467.
    • BlackRock Energy and Resources Trust (NYSE:BGR) announces monthly distribution of $0.0776.
    • BlackRock International Growth and Income Trust (NYSE:BGY) announces monthly distribution of $0.0490.
    • BlackRock Health Sciences Trust (NYSE:BME) announces monthly distribution of $0.2000.
    • BlackRock Enhanced Capital and Income Fund (NYSE:CII) announces monthly distribution of $0.1000.
    • BlackRock Global Opportunities Equity Trust (NYSE:BOE) announces monthly distribution of $0.0970.
    • BlackRock Utility and Infrastructure Trust (NYSE:BUI) announces monthly distribution of $0.1210.
    • BlackRock Science and Technology Trust (NYSE:BST) announces monthly distribution of $0.1000.
    • Payable Apr 29; for shareholders of record Apr 15; ex-div Apr. 13.
    | Tue, Apr. 12, 6:17 PM