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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 Score
PriceValuationFinancialsForecastEarnings & RevenueDividendsOwnershipTechnicals
Ticker
Company
Zen Score
Valuation Score
Financials Score
Forecast Score
Performance Score
Dividends Score
MNTK
MONTAUK RENEWABLES INC
73
71
71
78
70
–
CWCO
CONSOLIDATED WATER CO LTD
55
29
86
0
80
80
OPAL
OPAL FUELS INC
53
57
29
67
60
–
CEPU
CENTRAL PUERTO SA
51
71
57
67
20
40
CIG
ENERGY CO OF MINAS GERAIS
50
71
57
0
60
60

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Use Zen Score to quickly analyze stock fundamentals, even if you don't have a finance background. We run time-tested due diligence checks inspired by legendary investors like Warren Buffett, and score each company based on how many they pass/fail.

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Utility Industries

IndustryStocks1d %1w %1m %1y %Zen ScoreP/E ratioP/B RatioROEROAROCEUpside/DownsideConsensus
12+0.73%+3.98%+5.67%-4.35%43.98x1.67x+11.16%+3.21%+6.56%+1.11%Buy
5+4.14%+10.30%+18.09%+98.23%19.03x4.11x+31.02%+4.65%+13.89%-9.26%Buy
43+1.01%+3.12%+5.04%-4.76%17.69x1.73x+11.02%+2.99%+5.36%-1.89%Buy
15+0.53%+1.15%+2.41%-5.78%9.51x1.79x+7.96%+2.76%+5.81%+2.63%Hold
14+1.61%+5.89%+8.41%-10.05%22.86x2.20x+10.14%+3.76%+7.61%+2.97%Hold
21+2.61%+10.25%+11.39%+12.76%26.36x3.02x+12.07%+2.81%+5.55%+3.66%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 73, which is 42 points higher than the utility sector average of 31. It passed 24 out of 33 due diligence checks and has strong fundamentals. Montauk Renewables has seen its stock lose -33.96% over the past year, underperforming other utility stocks by -33 percentage points.

Montauk Renewables has an average 1 year price target of $7.00, an upside of 66.67% from Montauk Renewables's current stock price of $4.20.

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 24 points higher than the utility sector average of 31. It passed 20 out of 38 due diligence checks and has strong fundamentals. Consolidated Water Co has seen its stock return 64.62% over the past year, overperforming other utility stocks by 66 percentage points.

3. Opal Fuels (NASDAQ:OPAL)


Opal Fuels (NASDAQ:OPAL) is the third best utility stock with a Zen Score of 53, which is 22 points higher than the utility sector average of 31. It passed 18 out of 33 due diligence checks and has strong fundamentals. Opal Fuels has seen its stock lose -24.81% over the past year, underperforming other utility stocks by -24 percentage points.

Opal Fuels has an average 1 year price target of $8.67, an upside of 73.34% from Opal Fuels's current stock price of $5.00.

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%, which is 12 percentage points higher than the utility sector average of 3.77%. 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. Enel Chile Sa (NYSE:ENIC)


Enel Chile Sa (NYSE:ENIC) has an annual dividend yield of 11.39%, which is 8 percentage points higher than the utility sector average of 3.77%. 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.

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


Energy Co Of Minas Gerais (NYSE:CIG) has an annual dividend yield of 11.07%, which is 7 percentage points higher than the utility sector average of 3.77%. Energy Co Of Minas Gerais's dividend payout is not stable, having dropped more than 10% fourteen 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 45.8% indicates that its high dividend yield is sustainable for the long-term.

Why are utility stocks up?

Utility stocks were up 1.33% in the last day, and up 4.38% over the last week. Constellation Energy was the among the top gainers in the utilities sector, gaining 3.8% yesterday.

Constellation Energy shares are trading lower following a Q1 revenue miss.

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 -33.96% in the past year. It has underperformed other stocks in the utility sector by -33 percentage points.

2. Central Puerto Sa (NYSE:CEPU)


Central Puerto Sa (NYSE:CEPU) is the second most undervalued utility stock based on WallStreetZen's Valuation Score. Central Puerto Sa 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.

Central Puerto Sa's stock has gained 74.68% in the past year. It has overperformed other stocks in the utility sector by 76 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 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 0.28% in the past year. It has overperformed other stocks in the utility sector by 1 percentage points.

Are utility stocks a good buy now?

45.95% of utility stocks rated by analysts are a buy right now. On average, analysts expect utility stocks to fall by -0.16% 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 20.22x.
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