Utilities stocks to watch: Hot Picks from Andrew Weisel
As the risk of a recession continues to grow, one investment professional said investors should be looking to the utilities sector amid possible volatility.
Speaking with BNN Bloomberg's Amber Kanwar on Tuesday, Andrew Weisel, equity research director at Scotia Capital Inc., said utility stocks are the best positioned equities to take advantage of the shaky economic environment, especially as interest rates stabilize.
"Unlike the rest of the market we think you're going to see a lot of strong utilities growth rates," he said.
He recommended DTE Energy (DTE), CMS Energy (CMS), WEC Energy Group Inc. (WEC) as top hot picks in the utilities sector.
Weise, his family members, and his firm do not own the above stocks, though his investment banking clients do DTE Energy and CMS Energy.
Check out the full video at the top of the article to learn more.