When the economic going gets tough, the defensive utility sector gets going.
By no means are we predicting a recession, but many economists are predicting a tougher environment for some company earnings in early 2024.
Such environments are conducive to positioning in counter-cyclical sectors such as utilities. We have selected one such FTSE 350 stock for consideration.
This is the type of share you add to an ISA or SIPP, activate the reinvestment of dividends, and revisit in five years.
Before we go any further, we must stress that this company may offer better value at sli...