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Sectors & IndustriesUtilitiesUtilities - Diversified
Best Diversified Utility Stocks to Buy Now (2024)
Top diversified utility stocks in 2024 ranked by overall Zen Score. See the best diversified utility stocks to buy now, according to analyst forecasts for the utilities - diversified industry.

Industry: Utilities - Diversified
Ticker
Company
Country
Market Cap
Shares
Institutional %
Insider %
Net Insider (L12M)
Net Insider (L3M)
MNTK
MONTAUK RENEWABLES INC
United States
$584.85M143,698,26316.32%43.66%Net Selling
OTTR
OTTER TAIL CORP
United States
$3.55B41,710,52160.82%3.81%Net BuyingNet Buying
ALE
ALLETE INC
United States
$3.39B57,578,22276.46%1.33%Net SellingNet Selling
CIG
ENERGY CO OF MINAS GERAIS
Brazil
$5.53B2,201,370,6886.73%0.00%
AVA
AVISTA CORP
United States
$2.71B78,161,59685.06%2.18%Net BuyingNet Buying
SRE
SEMPRA
United States
$45.04B632,149,91689.68%0.75%Net SellingNet Selling
BKH
BLACK HILLS CORP
United States
$3.69B68,196,55186.77%1.79%Net BuyingNet Buying
AES
AES CORP
United States
$12.25B710,287,08387.20%12.80%Net BuyingNet Selling
UTL
UNITIL CORP
United States
$836.94M16,163,36576.70%5.18%Net Buying
NWE
NORTHWESTERN ENERGY GROUP INC
United States
$3.08B61,256,54981.98%18.02%Net BuyingNet Buying
BIP
BROOKFIELD INFRASTRUCTURE PARTNERS LP
Bermuda
$13.83B461,343,97257.49%0.00%
ELP
ENERGY CO OF PARANA
Brazil
$4.31B2,736,553,7500.88%0.00%

Diversified Utility Stocks FAQ

What are the best diversified utility stocks to buy right now in Mar 2024?

According to Zen Score, the 3 best diversified utility stocks to buy right now are:

1. Montauk Renewables (NASDAQ:MNTK)


Montauk Renewables (NASDAQ:MNTK) is the top diversified utility stock with a Zen Score of 69, which is 29 points higher than the diversified utility industry average of 40. It passed 22 out of 33 due diligence checks and has strong fundamentals. Montauk Renewables has seen its stock lose -48.87% over the past year, underperforming other diversified utility stocks by -44 percentage points.

Montauk Renewables has an average 1 year price target of $8.00, an upside of 96.56% from Montauk Renewables's current stock price of $4.07.

Montauk Renewables stock has a consensus Buy recommendation according to Wall Street analysts. Of the 2 analysts covering Montauk Renewables, 0% have issued a Strong Buy rating, 50% have issued a Buy, 50% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

2. Otter Tail (NASDAQ:OTTR)


Otter Tail (NASDAQ:OTTR) is the second best diversified utility stock with a Zen Score of 51, which is 11 points higher than the diversified utility industry average of 40. It passed 18 out of 38 due diligence checks and has strong fundamentals. Otter Tail has seen its stock return 19.12% over the past year, overperforming other diversified utility stocks by 24 percentage points.

3. Energy Co Of Minas Gerais (NYSE:CIG)


Energy Co Of Minas Gerais (NYSE:CIG) is the third best diversified utility stock with a Zen Score of 48, which is 8 points higher than the diversified utility industry average of 40. It passed 17 out of 38 due diligence checks and has strong fundamentals. Energy Co Of Minas Gerais has seen its stock return 22.44% over the past year, overperforming other diversified utility stocks by 27 percentage points.

Energy Co Of Minas Gerais has an average 1 year price target of $2.90, an upside of 15.54% from Energy Co Of Minas Gerais's current stock price of $2.51.

Energy Co Of Minas Gerais stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 1 analyst covering Energy Co Of Minas Gerais, 100% have issued a Strong Buy rating, 0% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

What are the diversified utility stocks with highest dividends?

Out of 9 diversified utility stocks that have issued dividends in the past year, the 3 diversified utility stocks with the highest dividend yields are:

1. Energy Co Of Minas Gerais (NYSE:CIG)


Energy Co Of Minas Gerais (NYSE:CIG) has an annual dividend yield of 10.36%, which is 6 percentage points higher than the diversified utility industry average of 4.53%. Energy Co Of Minas Gerais's dividend payout is not stable, having dropped more than 10% thirteen times in the last 10 years. Energy Co Of Minas Gerais's dividend has not shown consistent growth over the last 10 years.

Energy Co Of Minas Gerais's dividend payout ratio of 57% indicates that its high dividend yield is sustainable for the long-term.

2. Avista (NYSE:AVA)


Avista (NYSE:AVA) has an annual dividend yield of 5.35%, which is 1 percentage points higher than the diversified utility industry average of 4.53%. Avista's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Avista's dividend has shown consistent growth over the last 10 years.

Avista's dividend payout ratio of 61.6% indicates that its high dividend yield is sustainable for the long-term.

3. Brookfield Infrastructure Partners (NYSE:BIP)


Brookfield Infrastructure Partners (NYSE:BIP) has an annual dividend yield of 5.18%, which is 1 percentage points higher than the diversified utility industry average of 4.53%. Brookfield Infrastructure Partners's dividend payout is not stable, having dropped more than 10% two times in the last 10 years. Brookfield Infrastructure Partners's dividend has shown consistent growth over the last 10 years.

Brookfield Infrastructure Partners's dividend payout ratio of 1,109.3% indicates that its high dividend yield might not be sustainable for the long-term.

Why are diversified utility stocks up?

Diversified utility stocks were up 2.8% in the last day, and up 2.73% over the last week.

We couldn't find a catalyst for why diversified utility stocks are up.

What are the most undervalued diversified utility stocks?

Based on WallStreetZen's Valuation Score, the 3 most undervalued diversified utility stocks right now are:

1. Montauk Renewables (NASDAQ:MNTK)


Montauk Renewables (NASDAQ:MNTK) is the most undervalued diversified utility stock based on WallStreetZen's Valuation Score. Montauk Renewables has a valuation score of 86, which is 42 points higher than the diversified utility industry average of 44. It passed 6 out of 7 valuation due diligence checks.

Montauk Renewables's stock has dropped -48.87% in the past year. It has underperformed other stocks in the diversified utility industry by -44 percentage points.

2. Energy Co Of Minas Gerais (NYSE:CIG)


Energy Co Of Minas Gerais (NYSE:CIG) is the second most undervalued diversified utility stock based on WallStreetZen's Valuation Score. Energy Co Of Minas Gerais has a valuation score of 71, which is 27 points higher than the diversified utility industry average of 44. It passed 5 out of 7 valuation due diligence checks.

Energy Co Of Minas Gerais's stock has gained 22.44% in the past year. It has overperformed other stocks in the diversified utility industry by 27 percentage points.

3. Northwestern Energy Group (NASDAQ:NWE)


Northwestern Energy Group (NASDAQ:NWE) is the third most undervalued diversified utility stock based on WallStreetZen's Valuation Score. Northwestern Energy Group has a valuation score of 57, which is 13 points higher than the diversified utility industry average of 44. It passed 4 out of 7 valuation due diligence checks.

Northwestern Energy Group's stock has dropped -9.92% in the past year. It has underperformed other stocks in the diversified utility industry by -5 percentage points.

Are diversified utility stocks a good buy now?

44.44% of diversified utility stocks rated by analysts are a hold right now. On average, analysts expect diversified utility stocks to rise by 9.4% over the next year.

What is the average p/e ratio of the utilities - diversified industry?

The average P/E ratio of the utilities - diversified industry is 46.43x.
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Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.