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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
OverviewZen ScorePriceValuationFinancialsForecast
Earnings & RevenueDividendsOwnershipTechnicals
Ticker
Company
Forecast Score
Market Cap
Price
Price Target
Upside/Downside
Top Analysts Upside/Downside
Consensus
Top Analysts Consensus
Analysts
Top Analysts
Fore. Revenue Growth
Fore. Earnings Growth
Forecast ROE
Forecast ROA
CEG
CONSTELLATION ENERGY CORP
$65.87B$208.00$196.33-5.61%Strong Buy6-0.74%15.87%N/AN/A
KEP
KOREA ELECTRIC POWER CORP
$10.22B$7.96N/AN/AN/AN/AN/AN/AN/AN/A
NNE
NANO NUCLEAR ENERGY INC
N/A$5.19N/AN/AN/AN/AN/AN/AN/AN/A
HE
HAWAIIAN ELECTRIC INDUSTRIES INC
$1.11B$10.12$9.75-3.66%Sell2N/AN/AN/AN/A
SUUN
SOLARBANK CORP
N/A$5.95N/AN/AN/AN/AN/AN/AN/AN/A
VSTE
VAST RENEWABLES LTD
$104.28M$3.56N/AN/AN/AN/AN/AN/AN/AN/A
ALCE
ALTERNUS CLEAN ENERGY INC
$28.03M$0.35N/AN/AN/AN/AN/AN/AN/AN/A
BIPC
BROOKFIELD INFRASTRUCTURE CORP
$4.89B$34.17N/AN/AN/AN/AN/AN/AN/AN/A
CTRI
CENTURI HOLDINGS INC
$2.21B$24.96N/AN/AN/AN/AN/AN/AN/AN/A
HTOO
FUSION FUEL GREEN PLC
$22.41M$1.29$3.50171.32%Buy1N/AN/AN/AN/A
12

Utility Industries

IndustryStocks1d %1w %1m %1y %Zen ScoreP/E ratioP/B RatioROEROAROCEUpside/DownsideConsensus
12+0.76%+4.15%+4.57%-4.91%43.49x1.66x+11.15%+3.22%+6.56%+2.52%Buy
5+4.20%+8.78%+10.06%+92.99%18.15x3.92x+30.80%+4.65%+13.88%-8.56%Buy
42+0.26%+2.45%+4.50%-5.95%17.49x1.71x+11.01%+2.99%+5.34%-0.98%Buy
15-0.26%+1.26%+2.22%-6.22%9.36x1.79x+8.57%+2.86%+5.92%+2.90%Buy
14+1.37%+5.42%+7.80%-11.18%22.59x2.18x+10.17%+3.77%+7.65%+3.96%Hold
21+1.94%+9.88%+8.30%+10.93%33.53x2.95x+7.95%+1.90%+4.53%+5.94%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 68, which is 36 points higher than the utility sector average of 32. It passed 22 out of 33 due diligence checks and has strong fundamentals. Montauk Renewables has seen its stock lose -36.26% over the past year, underperforming other utility stocks by -34 percentage points.

Montauk Renewables has an average 1 year price target of $7.00, an upside of 72.41% from Montauk Renewables's current stock price of $4.06.

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 55, which is 23 points higher than the utility sector average of 32. It passed 20 out of 38 due diligence checks and has strong fundamentals. Consolidated Water Co has seen its stock return 64.43% over the past year, overperforming other utility stocks by 67 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 -24.89% over the past year, underperforming other utility stocks by -23 percentage points.

Opal Fuels has an average 1 year price target of $8.67, an upside of 75.09% from Opal Fuels's current stock price of $4.95.

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. Kenon Holdings (NYSE:KEN)


Kenon Holdings (NYSE:KEN) has an annual dividend yield of 16.56%, which is 13 percentage points higher than the utility sector average of 3.81%. 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.

2. Nextera Energy Partners (NYSE:NEP)


Nextera Energy Partners (NYSE:NEP) has an annual dividend yield of 11.6%, which is 8 percentage points higher than the utility sector average of 3.81%. Nextera Energy Partners's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Nextera Energy Partners's dividend has shown consistent growth over the last 10 years.

Nextera Energy Partners's dividend payout ratio of 112.2% 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 11.54%, which is 8 percentage points higher than the utility sector average of 3.81%. 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 0.76% in the last day, and up 3.92% over the last week. Vistra was the among the top gainers in the utilities sector, gaining 9.13% yesterday.

Vistra shares are trading higher following Q1 earnings.

What are the most undervalued utility stocks?

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

1. Montauk Renewables (NASDAQ:MNTK)


Montauk Renewables (NASDAQ:MNTK) is the most undervalued utility stock based on WallStreetZen's Valuation Score. Montauk Renewables has a valuation score of 71, which is 44 points higher than the utility sector average of 27. It passed 5 out of 7 valuation due diligence checks.

Montauk Renewables's stock has dropped -36.26% in the past year. It has underperformed other stocks in the utility sector by -34 percentage points.

2. Via Renewables (NASDAQ:VIA)


Via Renewables (NASDAQ:VIA) is the second most undervalued utility stock based on WallStreetZen's Valuation Score. Via Renewables has a valuation score of 71, which is 44 points higher than the utility sector average of 27. It passed 5 out of 7 valuation due diligence checks.

Via Renewables's stock has gained 4.09% in the past year. It has overperformed other stocks in the utility sector by 6 percentage points.

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


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

Energy Co Of Minas Gerais's stock has gained 11.21% in the past year. It has overperformed other stocks in the utility sector by 13 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 0.85% 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 20.58x.
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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.