Pinnacle West Capital Corp

Utilities continue trading near fair value with only a few high-quality dividend payers trading at attractive prices.

Our fair value estimate is unchanged after a rough third quarter.

Only the Fed could break up utilities' M&A party.

Utilities' 4% dividend yields still look attractive even with the chance for rising interest rates.

We don't see an end to this atypical volatility until interest rates rise back toward historical norms.

Utilities' 23% total return through mid-December topped all sectors except for M&A-fueled health care.

Stock price volatility offers opportunities for investors committed to holding utilities for the long run.

Some of the most defensive companies in the utilities sector have performed the best this year and could face a sharp drop if interest rates start to creep up.

Though currently a small percentage of the sector, distributed generation is a threat that could erode utilities firms' moats over the long term.

Interest rate fears have weighed on the sector's absolute performance, but utilities' fundamentals remain strong for the most part.

Finally, utilities with good growth and attractive yields are on sale.

With interest rates rising, will dividend yields keep utilities afloat?

Utilities show no signs of slowing down with yields that look as good as ever.

Pegging the direction of utilities stocks in 2013 is not for the faint of heart.

With interest rates leveling off and power markets stalled, utilities face a tough near-term outlook.

Fast-approaching environmental regulation could reshape the utilities sector.

Regulated utilities could be hit hard by inflation, while diversified firms have long-term value that the market refuses to recognize.

Our top utility picks during periods of inflation, deflation, or stagflation.

Utilities with nuclear exposure look cheap after the Japan disaster.

Utilities are keeping an eye on Washington in 2011.