Don't knock regulations: Citigroup's Greg Gordon says some investors swear by them. The equity analyst joined "Squawk on the Street" to offer his take on the utility industry -- and named his top utility stock picks.
Gordon told CNBC's Erin Burnett that the current market is a "tremendous environment" for utilities, and noted that the best of the group -- which he says includes PSEG, Entergy and Exelon -- are up 20% this year. Citigroup has "buy" ratings for Constellation Energy and PPL Energy.
The analyst said that he's seeing a lot of rotation into more regulated names, as investors worry about a softening economy -- and seek the reliability that regulations can bring.
Constellation Energy, PSEG, Exelon and Entergy are investment banking clients of Gordon's employer, Citigroup.