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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 ScorePriceValuation
FinancialsForecastEarnings & RevenueDividendsOwnershipTechnicals
Ticker
Company
Price
Valuation Score
Graham Fair Value
Graham Fair Value %
P/E
Forward P/E
P/S
P/B
PEG
Free Cash Flow
Free Cash Flow Yield
Book Value
BVPS
EV
EV/EBITDA
BEPC
BROOKFIELD RENEWABLE CORP
$23.24N/AN/AN/A-116.20x1.91x1.50xN/A$684.00M7.87%$5.79B15.47$25.79B10.35
KEP
KOREA ELECTRIC POWER CORP
$7.65N/AN/A-2.82xN/A0.16x0.38xN/A-$8.73B-88.93%$25.93B20.19$117.46B15.15
HE
HAWAIIAN ELECTRIC INDUSTRIES INC
$9.85N/AN/A5.41xN/A0.29x0.46xN/A$103.18M9.54%$2.34B21.37$4.43B6.49
CTRI
CENTURI HOLDINGS INC
$24.75N/AN/A-10.22xN/A0.63xN/AN/A$72.62M3.95%$225.99M3.04N/AN/A
VSTE
VAST RENEWABLES LTD
$3.40N/AN/A-0.05xN/A8.54x44.88xN/A-$35.67M-247.62%$2.22M0.52$88.52M-0.30
SUUN
SOLARBANK CORP
$5.85N/AN/AN/AN/AN/AN/AN/AN/AN/A$15.55M0.58N/AN/A
ALCE
ALTERNUS CLEAN ENERGY INC
$0.34N/AN/A-0.37xN/A0.98x-0.43xN/A$9.76M49.56%-$63.25M-1.09$202.50M-6.45
BIPC
BROOKFIELD INFRASTRUCTURE CORP
$30.47N/AN/AN/AN/A1.74x-10.92xN/A$540.00M12.39%-$399.00M-2.79$15.95B10.35
HTOO
FUSION FUEL GREEN PLC
$1.25N/AN/A-0.55xN/A4.86x7.39xN/A-$19.43M-89.44%$2.94M0.17$32.61M-1.39
12

Utility Industries

IndustryStocks1d %1w %1m %1y %Zen ScoreP/E ratioP/B RatioROEROAROCEUpside/DownsideConsensus
12-0.29%+0.09%-0.86%-9.12%40.88x1.58x+10.16%+3.28%+6.91%+8.35%Buy
5-1.67%+4.07%+1.66%+75.10%-8.66x3.64x+13.47%+2.54%+9.28%-3.70%Buy
42-0.45%+0.29%+1.03%-9.32%16.72x1.65x+11.04%+3.00%+5.36%+1.70%Buy
15-0.59%-0.15%-0.96%-7.49%14.95x1.73x+8.01%+2.65%+5.66%+5.18%Hold
14+0.17%+1.52%-0.73%-16.16%21.79x2.11x+9.98%+3.73%+7.36%+12.17%Buy
21-1.38%-1.30%-1.31%+1.97%31.31x2.58x+8.23%+1.95%+4.57%+16.83%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 69, which is 36 points higher than the utility sector average of 33. It passed 22 out of 33 due diligence checks and has strong fundamentals. Montauk Renewables has seen its stock lose -45.54% over the past year, underperforming other utility stocks by -39 percentage points.

Montauk Renewables has an average 1 year price target of $7.50, an upside of 108.33% from Montauk Renewables's current stock price of $3.60.

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 25 points higher than the utility sector average of 33. It passed 21 out of 38 due diligence checks and has strong fundamentals. Consolidated Water Co has seen its stock return 52.58% over the past year, overperforming other utility stocks by 59 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 20 points higher than the utility sector average of 33. It passed 18 out of 33 due diligence checks and has strong fundamentals. Opal Fuels has seen its stock lose -40.46% over the past year, underperforming other utility stocks by -34 percentage points.

Opal Fuels has an average 1 year price target of $8.67, an upside of 85.19% from Opal Fuels's current stock price of $4.68.

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 16.96%, which is 13 percentage points higher than the utility sector average of 3.97%. 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 12.14%, which is 8 percentage points higher than the utility sector average of 3.97%. 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 11.93%, which is 8 percentage points higher than the utility sector average of 3.97%. 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 down?

Utility stocks were down -0.54% in the last day, and up 0.36% over the last week.

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

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 86, which is 56 points higher than the utility sector average of 30. It passed 6 out of 7 valuation due diligence checks.

Montauk Renewables's stock has dropped -45.54% in the past year. It has underperformed other stocks in the utility sector by -39 percentage points.

2. Enlight Renewable Energy (NASDAQ:ENLT)


Enlight Renewable Energy (NASDAQ:ENLT) is the second most undervalued utility stock based on WallStreetZen's Valuation Score. Enlight Renewable Energy has a valuation score of 71, which is 41 points higher than the utility sector average of 30. It passed 5 out of 7 valuation due diligence checks.

Enlight Renewable Energy's stock has dropped -1.96% in the past year. It has overperformed other stocks in the utility sector by 5 percentage points.

3. Central Puerto Sa (NYSE:CEPU)


Central Puerto Sa (NYSE:CEPU) is the third most undervalued utility stock based on WallStreetZen's Valuation Score. Central Puerto Sa has a valuation score of 71, which is 41 points higher than the utility sector average of 30. It passed 5 out of 7 valuation due diligence checks.

Central Puerto Sa's stock has gained 73.57% in the past year. It has overperformed other stocks in the utility sector by 80 percentage points.

Are utility stocks a good buy now?

45.33% of utility stocks rated by analysts are a buy right now. On average, analysts expect utility stocks to rise by 5.33% 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 18.85x.
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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.