UTG Research | Milton Maxwell

UTG

Reaves Utility Income Fund

37.21

+0.22+0.6%

Dec 16, 4:00:00 PM EST

Upcoming Earnings

Report date

≈ -/-

Earnings Call Transcripts

This Quarter (Q4 '25)

No earnings call transcript available yet

Last Quarter (Q3 '25)

No earnings call transcript available

Key Stats

Market Cap

3.32B

P/E (TTM)

4.25

Basic EPS (TTM)

8.76

Dividend Yield

0.06%

Recent Filings

8-K

Auditor switch announced

3/12/24Mar 12, 2024

Reaves Utility Income Fund switched auditors on March 7, 2024, appointing Cohen & Company Ltd. as its independent registered public accounting firm for the fiscal year ending October 31, 2024, replacing Deloitte & Touche LLP. No disagreements or reportable events arose with Deloitte during the prior two fiscal years or interim period. The move ensures seamless audit continuity. Deloitte concurs with the disclosures.

8-K

Fund doubles ATM shares

2/6/24Feb 6, 2024

Reaves Utility Income Fund amended its distribution agreement on February 6, 2024, doubling the at-the-market offering capacity to 16,065,000 common shares through Paralel Distributors, with UBS Securities as sub-agent. This expands the Fund's ability to raise capital via share sales above net asset value, excluding commissions. No pricing or proceeds details disclosed. Yet, it bolsters liquidity for utility investments.

8-K

Fund switches administrators, cuts fees

9/19/22Sep 19, 2022

Reaves Utility Income Fund entered new agreements on September 19, 2022, with Paralel Distributors for an at-the-market offering of up to 8 million common shares, replacing prior deals with ALPS after selling 5.08 million shares since November 2021. Paralel Technologies assumes administration duties at lower fees—0.15% on the first $2 billion of assets versus ALPS's 0.265%—while providing added secondary market support. This shift cuts costs yet maintains core services. New officers from Paralel take key roles amid ALPS resignations.

About

Reaves Utility Income Fund is a closed ended balanced mutual fund launched and managed by W. H. Reaves & Company, Inc. The fund invests in public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating in the Utilities sector. The fund primarily invests in dividend paying stocks and debt instruments of companies operating across all market capitalizations. It employs a combination of quantitative and fundamental analysis with bottom-up stock picking approach to create its portfolio. Reaves Utility Income Fund was formed on September 15, 2003 and is domiciled in the United States.

CEO

Mr. Jeremy Oppegard May CPA

IPO

2/25/2004

Website

https://www.utilityincomefund.com/

Sector

Financial Services

Industry

Asset Management