Top 5 Utilities Stocks That Could Blast Off In March


The most oversold stocks in the utilities sector presents an opportunity to buy into undervalued companies.

The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

Kenon Holdings Ltd KEN

  • Kenon's subsidiary OPC Energy Ltd. announced an agreement by CPV, a subsidiary of OPC, to acquire Wind Energy Power Plants in the U.S. for $172 million. The company’s stock has a 52-week low of $26.91 .
  • RSI Value: 27.36
  • KEN Price Action: Shares of Kenon Holdings gained 0.6% to close at $27.29 on Friday.

OGE Energy Corp. OGE

  • OGE Energy posted upbeat earnings for the fourth quarter. "Continued economic growth in our communities combined with outstanding execution by our employees delivered solid financial results in 2022," said Sean Trauschke, OGE Energy Corp. Chairman, President and CEO. The company’s stock has a 52-week low of $33.28.
  • RSI Value: 29.52
  • OGE Price Action: Shares of OGE Energy gained 0.5% to close at $35.80 on Friday.

Middlesex Water Company MSEX

  • Middlesex Water posted weaker-than-expected quarterly earnings. Middlesex Chairman, President and Chief Executive Officer Dennis W. Doll said, “We increased our dividend 7.76% in the third quarter of 2022 representing our 50th consecutive year of dividend increases. These achievements plus our ongoing commitment to training and development and solid governance practices help to ensure we have the people, business processes and overall operations excellence to continue delivering quality service to our customers and value for our shareholders.” The company’s stock has a 52-week low of $74.20.
  • RSI Value: 28.63
  • MSEX Price Action: Shares of Middlesex Water fell 1.1% to close at $75.93 on Thursday.

Essential Utilities, Inc. WTRG

  • Essential Utilities posted downbeat quarterly earnings. "During a year that included rising interest rates, inflation and supply chain challenges, we upheld our long tradition of operational excellence, strong growth, and record investment in infrastructure, leading to improved quality, safety, and reliability for the communities we serve," said Essential Chairman and Chief Executive Officer Christopher Franklin. The company’s 52-week low is $38.50.
  • RSI Value: 23.71
  • WTRG Price Action: Shares of Essential Utilities fell 1.2% to close at $42.01 on Friday.

Centrais Elétricas Brasileiras S.A. - Eletrobrás EBR

  • The company’s stock dropped 14% over the past month. The company has a 52-week low of $6.34.
  • RSI Value: 26.56
  • EBR Price Action: Shares of Eletrobrás fell 0.9% to close at $6.37 on Friday.

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