Sectors & IndustriesUtilities
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

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

Ticker	Company	Country	Market Cap	Shares	Institutional %	Insider %	Net Insider (L12M)	Net Insider (L3M)
BEPC	BROOKFIELD RENEWABLE CORP	United States	$9.62B	374,112,400	34.51%	0.00%
KEP	KOREA ELECTRIC POWER CORP	Republic Of Korea	$9.86B	641,964,077	2.66%	0.00%
CTRI	CENTURI HOLDINGS INC	United States	N/A	86,657,521	0.00%	82.86%	Net Buying	Net Buying
HE	HAWAIIAN ELECTRIC INDUSTRIES INC	United States	$1.13B	110,151,798	59.85%	6.25%	Net Selling	Net Selling
VSTE	VAST RENEWABLES LTD	Australia	$101.35M	29,291,884	0.08%	0.00%
SUUN	SOLARBANK CORP	Canada	N/A	27,136,075	0.00%	0.00%
ALCE	ALTERNUS CLEAN ENERGY INC	United States	$30.83M	80,076,664	3.32%	84.02%
BIPC	BROOKFIELD INFRASTRUCTURE CORP	United States	$4.47B	142,989,726	63.94%	0.00%
HTOO	FUSION FUEL GREEN PLC	Ireland	$22.58M	17,371,968	15.14%	0.00%

Utility Industries

Industry	Stocks	1d %	1w %	1m %	1y %	P/E ratio	P/B Ratio	ROE	ROA	ROCE	Upside/Downside	Consensus
Utilities - Diversified	12	+1.60%	+1.27%	+0.73%	-7.67%	41.95x	1.59x	+10.17%	+3.28%	+6.91%	+6.84%	Buy
Utilities - Independent Power Producers	5	+1.40%	+4.74%	+3.08%	+77.54%	-8.78x	3.69x	+13.47%	+2.54%	+9.28%	-3.76%	Buy
Utilities - Regulated Electric	42	+1.00%	+0.81%	+2.05%	-8.40%	16.92x	1.67x	+11.04%	+3.00%	+5.34%	+0.73%	Buy
Utilities - Regulated Gas	15	+0.76%	-0.27%	-0.27%	-6.85%	14.93x	1.73x	+7.96%	+2.65%	+5.66%	+4.58%	Hold
Utilities - Regulated Water	14	+1.70%	+2.51%	+0.97%	-14.73%	22.14x	2.12x	+9.98%	+3.72%	+7.29%	+10.25%	Buy
Utilities - Renewable	21	+1.65%	+0.71%	+0.32%	+3.65%	30.27x	2.62x	+8.01%	+1.90%	+4.52%	+15.42%	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 -44.18% 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 103.25% from Montauk Renewables's current stock price of $3.69.

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 54.44% 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 53, which is 21 points higher than the utility sector average of 32. It passed 18 out of 33 due diligence checks and has strong fundamentals. Opal Fuels has seen its stock lose -41.6% over the past year, underperforming other utility stocks by -36 percentage points.

Opal Fuels has an average 1 year price target of $8.67, an upside of 88.82% from Opal Fuels's current stock price of $4.59.

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 16.95%, which is 13 percentage points higher than the utility sector average of 3.9%. 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 12.04%, which is 8 percentage points higher than the utility sector average of 3.9%. 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 11.85%, which is 8 percentage points higher than the utility sector average of 3.9%. 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 1.2% in the last day, and up 1.08% over the last week.

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

What are the most undervalued utility stocks?

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

1. Central Puerto Sa (NYSE:CEPU)

Central Puerto Sa (NYSE:CEPU) is the most undervalued utility stock based on WallStreetZen's Valuation Score. Central Puerto Sa has a valuation score of 71, which is 42 points higher than the utility sector average of 29. It passed 5 out of 7 valuation due diligence checks.

Central Puerto Sa's stock has gained 74.75% in the past year. It has overperformed other stocks in the utility sector by 80 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 42 points higher than the utility sector average of 29. 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 3 percentage points.

3. Montauk Renewables (NASDAQ:MNTK)

Montauk Renewables (NASDAQ:MNTK) is the third most undervalued utility stock based on WallStreetZen's Valuation Score. Montauk Renewables has a valuation score of 71, which is 42 points higher than the utility sector average of 29. It passed 5 out of 7 valuation due diligence checks.

Montauk Renewables's stock has dropped -44.18% in the past year. It has underperformed other stocks in the utility sector by -39 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 rise by 4.27% 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 19x.

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.