The Spark Infrastructure Group share price just hit an all-time high

Much to the delight of its shareholders, the Spark Infrastructure Group (ASX: SKI) share price has climbed to an all-time high of $2.83 today.

This means the shares of the regulated electricity distribution-focused infrastructure fund have now risen 19% year-to-date.

This is despite the company posting a 14.1% drop in underlying profit before loan note interest and tax to $225.8 million in FY 2016.

Investors are likely to have been attracted to its growing distribution.

Spark’s directors have confirmed that the company intends to pay a 15.25 cents per share distribution in FY 2017 and a 16 cents per share distribution in FY 2018.

But one leading broker clearly isn’t a fan of the electricity distribution industry at present. A research note out of Macquarie last week revealed that its analysts have recommended selling AGL Energy Ltd (ASX: AGL) shares.

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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