Jim Cramer Says This Utilities Stock Is A Buy: ‘We Need Cheap Power’

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

On CNBC’s “Mad Money Lightning Round,” Jim Cramer said Dominion Energy, Inc. (NYSE:D) is a buy. “We need cheap power,” he noted.

On Sept. 19, Jefferies analyst Paul Zimbardo initiated coverage on Dominion Energy with a Hold rating and announced a price target of $58.

Cramer said he likes Dutch Bros Inc. (NYSE:BROS). “I’m glad that they slowed their expansion,” he added.

Check It Out:

On Sept. 12, TD Cowen analyst Andrew Charles reiterated Dutch Bros with a Buy and maintained a $47 price target.

When asked about Super Micro Computer (NASDAQ:SMCI), he said, “I need to see the financials filed.”

On Sept. 20, Super Micro Computer announced the receipt of non-compliance letter from the Nasdaq.

LyondellBasell Industries N.V. (NYSE:LYB) is not a stock that he is recommending, Cramer said.

Trending: This billion-dollar fund has invested in the next big real estate boom, here’s how you can join for $10.
This is a paid advertisement. Carefully consider the investment objectives, risks, charges and expenses of the Fundrise Flagship Fund before investing. This and other information can be found in the Fund’s prospectus. Read them carefully before investing.

On Sept. 13, JPMorgan analyst Jeffrey Zekauskas maintained LyondellBasell Industries with an Overweight rating and lowered the price target from $113 to $110.

On Aug. 2, LyondellBasell reported second-quarter fiscal 2024 revenues of $10.55 billion, up from $10.306 billion a year ago, beating the consensus of $10.44 billion. Adjusted EBITDA stood at $1.37 billion (-5.3% Y/Y), and the margin contracted by 107 bps to 13%. Adjusted EPS stood at $2.24, beating the consensus of $2.23.

Price Action:

• Dominion Energy shares gained 0.8% to settle at $57.93 on Friday.

• Dutch Bros shares gained 0.2% to close at $34.92 during the session.

• Super Micro Computer shares gained 4.6% to close at $457.27 during Friday’s session.

• LyondellBasell shares fell 2.1% to settle at $94.04 on Friday.

Story continues

Wondering if your investments can get you to a $5,000,000 nest egg? Speak to a financial advisor today. SmartAsset’s free tool matches you up with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.

Keep Reading:

This article Jim Cramer Says This Utilities Stock Is A Buy: ‘We Need Cheap Power’ originally appeared on Benzinga.com