St. Louis firm expands Texas presence with acquisition
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CNBC
a minute ago
- CNBC
Utilities are surging in 2025. Wall Street likes these dividend-paying stocks
Utilities are emerging as a hot play in 2025 as investors take notice of their role in powering the artificial intelligence movement – and many of the names also happen to pay attractive dividends. As the broader S & P 500 retreated on Tuesday, the Utilities Select Sector SPDR Fund (XLU) touched a fresh record. Utilities are the second-best performing sector in the S & P 500 in 2025, up more than 14% and outperforming tech's roughly 13% advance. The outperformance is greater still including utilities' 2.8% dividend yield. XLU 5D mountain The Utilities Select Sector SPDR Fund (XLU) in the past five days. "For the power sector we expect significant tailwinds in the second half of 2025," said Bank of America analyst Ross Fowler in a late June report, pointing to the likelihood of continued growth in electricity demand. "Despite significant positive returns so far this year, we continue to believe the power stocks have data center related catalysts across the second half." In addition, dividend-paying stocks are looking more favorable for investors who are on the prowl for income, anticipating the day when the yield on risk-free Treasurys declines. To that end, CNBC Pro used FactSet data to screen for names within the XLU ETF that have buy or overweight ratings from at least 51% of the analysts covering them, and a dividend yield of at least 1.5%. PPL Corp. turned up on CNBC's screen. Once known as Pennsylvania Power & Light, the utility's shares are up 10% in 2025, and the stock pays a current dividend yield of about 3%. The provider of power and natural gas in Pennsylvania, Kentucky, Rhode Island and Virginia reported adjusted earnings of 32 cents on revenue of $2.03 billion in the second quarter against consensus estimates of 39 cents a share and $1.81 billion in revenue. Nearly 59% of the analysts covering the PPL rate it buy, according to FactSet. Jefferies analyst Paul Zimbardo stuck with the stock, reiterating a "buy" rating and lifting his price target on Monday by $2, to $42, suggesting 16% upside from Monday's close. "PPL is one of our top utility ideas, offering under-appreciated regulated generation data center exposure with premium core utilities overall," he said. "PPL has visibility to 8% EPS growth with conservative assumptions while preserving an above-average balance sheet." The icing on the cake is a recently announced joint venture between PPL and Blackstone Infrastructure to build natural gas generation to power data centers. "It is clear that this is an early stage partnership, but there is real option value here," Zimbardo said. NiSource also turned up on the screen. More than seven out of 10 analysts covering the Indiana-based utility recommend it as a buy or overweight, according to FactSet. Shares are up 16% in 2025, and the stock pays a current dividend in 2.6%. Fowler of Bank of America reiterated a buy rating on NiSource in late June following meetings with top brass. "NI is fielding active interest from hyperscalers seeking sites in Northern Indiana, where fiber and transmission access are gating factors," the analyst wrote. "A large fiber network from Chicago through northwest Indiana enhances competitiveness." "Paired with a solid dividend and visible [free cash flow] growth, we view NI as a defensive name with embedded optionality from growth upside," Fowler said. Finally, Xcel Energy turned up on our screen. The Minneapolis-based stock has a following, with 65% of analysts rating it a buy or overweight, according to FactSet. Shares are up 9% in 2025, and the stock pays a current dividend yield of about 3.1%. Anthony Crowdell of Mizuho last week stuck with his "outperform" rating after Xcel posted second-quarter results that topped the Street's estimates. "The company now has visibility into $15B+ of additional [capital expenditures] not included in its current base plan," he said. "This includes generation capex from resource plans across its service areas, transmission and data center demand." With the increase in capital spending built into the rate base, "the company reaffirmed its long-term EPS growth rate of 6%-8% and continue to expect to be in the upper half of the range," Crowdell added. — CNBC's Michael Bloom contributed reporting.
Axios
29 minutes ago
- Axios
Developer pulls plans for Heritage Square rezoning in Durham
A Chicago developer proposing a new life sciences campus near downtown Durham has pulled its rezoning application from the City Council at the 11th hour. Why it matters: The plans from Chicago-based Sterling Bay envisioned a mixed-use life sciences campus on the site of the Heritage Square shopping center on the edge of the Hayti neighborhood and across the Durham Freeway from downtown. The shopping center currently sits vacant, but was once home to a grocery store, some smaller shops and restaurants. Driving the news: The developer's plans, which were set to be heard at Monday night's Durham City Council meeting, were facing pushback from residents of Hayti, a historically Black neighborhood that has faced rising costs in recent years. Many of those residents expressed concern at the City Council meeting that a project of that size will cause property valuations across the neighborhood to soar even more, the News & Observer reported. Before the council could vote, however, Sterling Bay withdrew its application, a move that surprised the council and the dozens of people in the audience. The council ultimately voted to approve the withdrawal 5-2. Zoom in: A Sterling Bay spokesperson told Axios the company is disappointed that the project will not proceed, and noted that it's worked for the past three years to speak with residents in the neighborhood about the project. The company said it proposed $2.3 million in contributions to the local community as part of its rezoning, including scholarship money for N.C. Central University and Durham Technical Community College, a contribution to the Hayti Promise Community Development Corporation, affordable retail space and several other measures. "While the initiative will not move forward, we remain proud of the collaborative efforts that shaped it," the spokesperson said in a statement. What's next: The withdrawal means that Sterling Bay could resubmit another rezoning in six months or potentially build without it. Sterling Bay only filed the rezoning after discovering issues with the bedrock that made building underground parking more expensive and required taller buildings. The company had bought the 10-acre property for $62 million in 2022, according to county records. Sterling Bay said it was "exploring new steps" but declined to comment further on what might become of the property. Between the lines: The pulling of the rezoning also comes at a time when financing for office and lab buildings is much harder to come by.
Business Wire
29 minutes ago
- Business Wire
BioHub Maryland, Powered by the Maryland Tech Council, Partners with Bowie State University On Summer Life Sciences Training for Students
ROCKVILLE, Md.--(BUSINESS WIRE)--In a move to expand pathways into Maryland's life sciences industry, BioHub Maryland, powered by Maryland Tech Council, and Bowie State University, the state's first historically Black College/University, are partnering to give two dozen undergraduates hands-on experience in biopharmaceutical manufacturing this summer. By working with Bowie State University, we're ensuring a more robust pipeline of talent is ready to lead the next generation of biotech breakthroughs—right here in Maryland. The partnership aims to equip students with the technical skills needed to fill in-demand jobs in one of Maryland's most innovative industries. Over four weeks, students from the university's Department of Natural Sciences receive immersive, lab-based training at the BioHub Maryland Training and Education Center in Rockville— an 8,200 square-foot facility replicating real-world biopharma production environments. 'BioHub Maryland doesn't just train students—it launches careers,' said Kelly Schulz, Chief Executive Officer of the Maryland Tech Council. 'By working with Bowie State University, we're ensuring a more robust pipeline of talent is ready to lead the next generation of biotech breakthroughs—right here in Maryland.' Students will learn core biopharma manufacturing skills such as upstream processing, cell culture, and quality control—all of which are essential to the production of vaccines and other treatments. Curricula is designed by the National Institute for Bioprocessing Research and Training (NIBRT), BioHub Maryland's globally-trusted training provider. Upon completion, each student will earn a certificate recognized by life sciences employers. Training takes place at the Rockville-based BioHub Maryland Training and Education Center at Montgomery County, a state-of-the-art facility made possible by Montgomery County and the State of Maryland. The partnership between BioHub Maryland and Bowie State University accelerates Maryland's life sciences leadership. Home to 2,700 life sciences companies and 54,000 life sciences workers, the state is part of the BioHealth Capital Region, recently ranked the #3 biopharma cluster in the U.S. Bowie State's Department of Natural Sciences Chair and Professor, Dr. George Ude, and Associate Professor, Dr. Supriyo Ray, secured this opportunity for their students through a National Institute of Standards & Technology (NIST) grant. About BioHub Maryland BioHub Maryland is accelerating the life sciences industry for companies and career seekers to expand the state's global innovation advantage. A workforce initiative of the Maryland Tech Council, the largest technology and life sciences trade association in the state, BioHub Maryland enables residents of all backgrounds to compete for rewarding careers in life sciences by offering skills training, career resources, and access to job openings. BioHub Maryland also helps life sciences companies at every stage grow by showcasing their career opportunities, training the next generation of life sciences talent, and providing strategic resources for raising capital. Learn more at and follow us on LinkedIn, Instagram, Facebook, and Twitter.
