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Best Utility Stocks to Buy Now (2024)
Top utility stocks in 2024 ranked by overall Zen Score. See the best utility stocks to buy now, according to analyst forecasts for the utilities sector.

Sector: Utilities

Zen Score Price Valuation Financials Forecast Earnings & Revenue Dividends Ownership Technicals

Ticker	Company	Exchange	Industry	Market Cap	Price	1d %	EBITDA	P/E	D/E
CEG	CONSTELLATION ENERGY CORP	NASDAQ	Utilities - Renewable	$62.60B	$197.70	1.46%	$5.43B	39.38x	3.57
KEP	KOREA ELECTRIC POWER CORP	NYSE	Utilities - Regulated Electric	$10.27B	$8.00	0.88%	$7.75B	-2.94x	5.65
HE	HAWAIIAN ELECTRIC INDUSTRIES INC	NYSE	Utilities - Regulated Electric	$1.11B	$10.10	-3.26%	$682.03M	5.55x	6.34
CTRI	CENTURI HOLDINGS INC	NYSE	Utilities - Regulated Gas	N/A	$24.93	3.88%	$83.65M	-10.29x	8.25
SUUN	SOLARBANK CORP	NASDAQ	Utilities - Regulated Electric	N/A	$6.14	0.82%	N/A	N/A	1.54
VSTE	VAST RENEWABLES LTD	NASDAQ	Utilities - Regulated Electric	$93.73M	$3.20	-9.09%	-$295.30M	-0.05x	8.97
ALCE	ALTERNUS CLEAN ENERGY INC	NASDAQ	Utilities - Regulated Electric	$26.51M	$0.33	-3.78%	-$31.42M	-0.36x	-3.93
BIPC	BROOKFIELD INFRASTRUCTURE CORP	NYSE	Utilities - Regulated Gas	$4.83B	$33.81	1.35%	$1.54B	N/A	-49.73
HTOO	FUSION FUEL GREEN PLC	NASDAQ	Utilities - Renewable	$22.76M	$1.31	3.15%	-$23.52M	-0.57x	14.51

Utility Industries

Industry	Stocks	1d %	1w %	1m %	1y %	P/E ratio	P/B Ratio	ROE	ROA	ROCE	Upside/Downside	Consensus
Utilities - Diversified	12	+0.81%	+4.33%	+3.40%	-5.97%	42.96x	1.64x	+11.46%	+3.36%	+6.97%	+3.57%	Buy
Utilities - Independent Power Producers	5	+1.37%	+6.54%	+8.12%	+89.58%	-8.45x	3.90x	+13.39%	+2.56%	+9.36%	-10.53%	Buy
Utilities - Regulated Electric	42	+0.30%	+1.76%	+3.23%	-7.11%	17.47x	1.68x	+10.93%	+2.97%	+5.35%	+0.20%	Buy
Utilities - Regulated Gas	15	+0.02%	+1.08%	+1.86%	-6.55%	10.70x	1.73x	+8.57%	+2.85%	+5.94%	+3.28%	Hold
Utilities - Regulated Water	14	+0.73%	+4.98%	+5.37%	-13.18%	22.64x	2.17x	+10.04%	+3.74%	+7.59%	+6.92%	Buy
Utilities - Renewable	21	+1.35%	+7.55%	+5.74%	+8.32%	32.58x	2.86x	+7.75%	+1.85%	+4.46%	+7.83%	Buy

Utility Stocks FAQ

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

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

1. Montauk Renewables (NASDAQ:MNTK)

Montauk Renewables (NASDAQ:MNTK) is the top utility stock with a Zen Score of 66, which is 34 points higher than the utility sector average of 32. It passed 21 out of 33 due diligence checks and has strong fundamentals. Montauk Renewables has seen its stock lose -38.3% over the past year, underperforming other utility stocks by -35 percentage points.

Montauk Renewables has an average 1 year price target of $7.50, an upside of 90.84% from Montauk Renewables's current stock price of $3.93.

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. Consolidated Water Co (NASDAQ:CWCO)

Consolidated Water Co (NASDAQ:CWCO) is the second best utility stock with a Zen Score of 58, which is 26 points higher than the utility sector average of 32. It passed 21 out of 38 due diligence checks and has strong fundamentals. Consolidated Water Co has seen its stock return 56.33% over the past year, overperforming other utility stocks by 60 percentage points.

3. Opal Fuels (NASDAQ:OPAL)

Opal Fuels (NASDAQ:OPAL) is the third best utility stock with a Zen Score of 51, which is 19 points higher than the utility sector average of 32. It passed 17 out of 33 due diligence checks and has strong fundamentals. Opal Fuels has seen its stock lose -25.95% over the past year, underperforming other utility stocks by -22 percentage points.

Opal Fuels has an average 1 year price target of $8.67, an upside of 77.6% from Opal Fuels's current stock price of $4.88.

Opal Fuels stock has a consensus Buy recommendation according to Wall Street analysts. Of the 6 analysts covering Opal Fuels, 66.67% have issued a Strong Buy rating, 16.67% have issued a Buy, 0% have issued a Hold, while 0% have issued a Sell rating, and 16.67% have issued a Strong Sell.

What are the utility stocks with highest dividends?

Out of 75 utility stocks that have issued dividends in the past year, the 3 utility stocks with the highest dividend yields are:

1. Brazilian Electric Power Co (NYSE:EBR)

Brazilian Electric Power Co (NYSE:EBR) has an annual dividend yield of N/A, which is N/A percentage points lower than the utility sector average of 3.89%. Brazilian Electric Power Co's dividend payout is not stable, having dropped more than 10% five times in the last 10 years. Brazilian Electric Power Co's dividend has not shown consistent growth over the last 10 years.

Brazilian Electric Power Co's dividend payout ratio of 11.3% indicates that its dividend yield is sustainable for the long-term.

2. Kenon Holdings (NYSE:KEN)

Kenon Holdings (NYSE:KEN) has an annual dividend yield of 16.89%, which is 13 percentage points higher than the utility sector average of 3.89%. Kenon Holdings's dividend payout is not stable, having dropped more than 10% two times in the last 10 years. Kenon Holdings's dividend has shown consistent growth over the last 10 years.

Kenon Holdings's dividend payout ratio of -86% indicates that its high dividend yield might not be sustainable for the long-term.

3. Enel Chile Sa (NYSE:ENIC)

Enel Chile Sa (NYSE:ENIC) has an annual dividend yield of 11.93%, which is 8 percentage points higher than the utility sector average of 3.89%. Enel Chile Sa's dividend payout is not stable, having dropped more than 10% six times in the last 10 years. Enel Chile Sa's dividend has not shown consistent growth over the last 10 years.

Enel Chile Sa's dividend payout ratio of 72.9% indicates that its high dividend yield is sustainable for the long-term.

Why are utility stocks up?

Utility stocks were up 0.54% in the last day, and up 3.17% over the last week. Vistra was the among the top gainers in the utilities sector, gaining 2.15% yesterday.

Vistra shares are trading higher after it was announced the company will join the S&P 500.

What are the most undervalued utility stocks?

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

1. Enlight Renewable Energy (NASDAQ:ENLT)

Enlight Renewable Energy (NASDAQ:ENLT) is the most undervalued utility stock based on WallStreetZen's Valuation Score. Enlight Renewable Energy has a valuation score of 71, which is 43 points higher than the utility sector average of 28. It passed 5 out of 7 valuation due diligence checks.

Enlight Renewable Energy's stock has gained 2.43% in the past year. It has overperformed other stocks in the utility sector by 6 percentage points.

2. Montauk Renewables (NASDAQ:MNTK)

Montauk Renewables (NASDAQ:MNTK) is the second most undervalued utility stock based on WallStreetZen's Valuation Score. Montauk Renewables has a valuation score of 71, which is 43 points higher than the utility sector average of 28. It passed 5 out of 7 valuation due diligence checks.

Montauk Renewables's stock has dropped -38.3% in the past year. It has underperformed other stocks in the utility sector by -35 percentage points.

3. Via Renewables (NASDAQ:VIA)

Via Renewables (NASDAQ:VIA) is the third most undervalued utility stock based on WallStreetZen's Valuation Score. Via Renewables has a valuation score of 71, which is 43 points higher than the utility sector average of 28. It passed 5 out of 7 valuation due diligence checks.

Via Renewables's stock has gained 3.81% in the past year. It has overperformed other stocks in the utility sector by 7 percentage points.

Are utility stocks a good buy now?

47.3% of utility stocks rated by analysts are a buy right now. On average, analysts expect utility stocks to rise by 2% over the next year.

What is the average p/e ratio of the utilities sector?

The average P/E ratio of the utilities sector is 19.52x.

WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

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.