Industry & Services >> Analyst Interviews >> May 30, 2011

Consolidation Trends For Water Utilities – Timothy Winter – Gabelli & Company, Inc.

Winter, Timothy
Timothy Winter, CFA, is an Analyst covering the utility industry at Gabelli & Company, Inc., where he joined in April 2009. Mr. Winter has over 20 years of experience as an Equity Research Analyst covering the utility industry, including the years 1992 to 2007 at A.G. Edwards, from where he received industry recognition as a three-time The Wall Street Journal All-Star, and was a senior member of the Institutional Investor number-one ranked Electric Utility Team for the years 2001, 2002, 2003, 2004 and 2005. In 2007 he co-founded SM Research, an institutional research platform, and also served as a utility Equity Analyst at Jesup & Lamont. Mr. Winter received his MBA, concentration finance, from the University of Notre Dame in 1992, and his B.A. in economics from Rollins College in 1991. He is a Chartered Financial Analyst. Profile
TWST: You wrote in your 2010 industry report that water utilities provided 8% returns in 2010, compared to 4% from the S&P. What drove those above-average returns?

Mr. Winter: The decent return