There are few businesses more stable than utility companies. After all, we all need to keep the lights on! But today’s article points out that the love that investors have for utility stocks, on account of the level of safety they offer regardless of broader economic conditions, is making them more expensive and pushing up valuations: “The average price-to-earnings ratio of utilities stocks in the broad Standard & Poor’s 500 has risen nearly 10% since a year ago… [while] most sectors have gone the other way and gotten cheaper.” To see specifically how valuations for utilities have changed relative to other sectors, as well as what this may mean in the long-term for investors buying utility stocks defensively, CLICK HERE.