"With financial stress now appearing in places where central banks are unwilling to tolerate it, the primary question on many investors' minds has once again shifted to when the Federal Reserve pivots, not if. The moment the Fed decides to put out the fire, stocks and other risk assets are likely to rally sharply. Decade high inflation, the rise in interest rates, and a continually inverted yield curve are making it a challenging operating environment for most companies, but utility management teams continue to affirm near year outlooks in addition to long term guidance," says Michael Underhill. Then, he provides his utility stock picks: FE, ETR, DTE, and PPL.