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

On CNBC's “Mad Money Lightning Round,” Jim Cramer said Dominion Energy, Inc. 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. BROS. “I’m glad that they slowed their expansion,” he added.

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 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. LYB is not a stock that he is recommending, Cramer said.

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.

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