10 Worst Performing Utility Stocks in 2024

5. Centuri Holdings (NYSE:CTRI)  

YTD Performance as of October 15: -23.91%  

Market Cap as of October 15: $1.56 Billion  

Number of Hedge Fund Investors: 18

Centuri Holdings (NYSE:CTRI) is a utility infrastructure services provider that has established itself as a leader in the renewable energy space.

On September 12, Centuri Holdings (NYSE:CTRI) announced a significant milestone in the construction of the Ørsted Sunrise Wind project, a major offshore wind farm located in New York’s Capital District. The project, which is being developed, constructed, and operated by Ørsted, aims to deliver up to 924 megawatts of renewable energy, enough to power nearly 600,000 homes. As part of the project, Centuri Holdings’ (NYSE:CTRI) subsidiary, Riggs Distler, has been responsible for constructing, assembling, and inspecting large, specialized components essential to wind turbine foundations, known as advanced foundation components (AFCs). The completion of more than half of these components marks a significant milestone in the project’s progress.

As the world continues to transition towards renewable energy sources, Centuri Holdings (NYSE:CTRI) is well-positioned to capitalize on this trend. The company’s expertise in the offshore wind industry, its partnerships with major players in the sector, and its commitment to local communities make it an attractive investment opportunity.