Indústrias
Electric Utilities
Todas as análises de Electric Utilities — 22 análises.
39/100
68Buffett
ENN Energy: A Lapsed HK$80 Buyout Left 7.1x Core Earnings and a 6.1% Yield, but Every Ancillary Segment Shrank in H1 and HK$49.48 Sits Above the HK$40 Ideal-Buy Ceiling
ENN Energy is a Chinese city-gas concession operator running 264 municipal projects and serving more than 33 million residential households, and it has rebuilt its profit engine from property-linked connection fees, 76.8% of revenue back in 2001, into gas margin, with construction now supplying only 8.4% of H1 2026 group gross profit. The parent's privatisation, HK$24.50 in cash plus 2.9427 ENN Natural Gas H shares for a roughly HK$80 headline, lapsed on 12 June 2026 when HKEX approval-in-principle and the CSRC process never arrived, sending the stock to a HK$40.38 low before it recovered to HK$49.48; underneath, H1 retail gas gross profit rose 10.4% on 0.8% volume growth while smart home fell 13.3%, integrated energy 13.0% and construction 31.8%. Rating Cautious Buy: FY2025 core profit of RMB6.741 billion prices the stock at about 7.1 times core earnings with a 6.1% trailing dividend yield, but the roughly HK$49.6 conservative value sits almost exactly at the market price, so only the HK$36-40 ideal-buy zone supplies a real cushion.
39/100
69Buffett
China Yangtze Power: Six Dams, a 70% Payout Floor, and Why 15.5x Owner Earnings Still Leaves No Margin of Safety
China Yangtze Power operates 71.695 GW across six Yangtze cascade stations, close to one fifth of China's conventional hydro capacity, and adds an overseas platform built around Peruvian distribution worth about 3.5% of attributable profit. FY2025 operating cash flow of RMB 60.563 bn ran 1.76x attributable net profit, and after finance costs and roughly RMB 9.0 bn of estimated maintenance capex the stock sits near 15.5x owner earnings against a 20.15x accounting P/E, while the 2026 to 2030 plan fixes a minimum 70% payout. Rating Hold: scarce hydro assets and a contractual payout floor justify a premium, but CNY 28.42 is already well above the CNY 24.17 conservative value and offers no margin of safety until roughly CNY 18.1 to 19.3.
44/100
ACWA Power: A Compelling National Champion Wrapped in an Undisciplined Valuation
ACWA Power is a Saudi project-finance platform, 44%-owned by sovereign wealth fund PIF, that develops and operates contracted power, desalination, and green-hydrogen assets; assets under management reached SAR 455 billion in the first quarter of 2026, even as adjusted net profit fell 34.3% year over year. The stock trades around 82x trailing earnings with 5.2x parent leverage, and even the report's optimistic SAR 170 valuation ceiling sits below the current SAR 192 price. Rating Watch: the strategic position is real, but the price has already paid for growth the business has not yet delivered.
43/100
Fervo Energy: The Geothermal Buildout Is Real, the Margin of Safety Is Not
Fervo Energy is a newly public enhanced-geothermal developer building utility-scale, contracted 24/7 power plants under its Cape Station program, still pre-commercial today with barely any revenue. The company has signed 658 MW of power purchase agreements worth about $7.2 billion in backlog and closed a $421.4 million non-recourse project-finance package, yet Q1 2026 revenue was just $61,000 against a $31.8 million net loss, and Phase II alone still needs roughly $2.2 billion more through 2028. Rating Hold: the commercial and financing progress is real, but at $27.13 the stock already sits above the conservative fair-value range, leaving essentially no margin of safety until Cape Station proves itself in operation.
41/100
Pinnacle West Capital Corporation Value Investment Research Report
Pinnacle West Capital Corporation is a regulated Arizona electric utility with stable demand and a strong regulatory moat. The core thesis is that growth is real but depends heavily on financing, capital investment, and future rate recovery while free cash flow remains structurally negative. Research rating Watch: a defensible utility franchise, but the current price offers limited margin of safety and the ideal buy range is $75 to $85.
38/100
53Buffett
Alliant Energy LNT Research from a Long-Term Business Owner's Perspective
Alliant Energy is a regulated electric and natural gas utility in the U.S. Midwest, with its moat rooted in regulatory licenses and service territories. Earnings are stable and the dividend has increased for years, but free cash flow has remained negative for a long time and the valuation is not cheaper than higher-quality peers. Rating Watch: a defensible utility business, but the current price does not offer enough margin of safety.
39/100
Evergy: A Long-Term Business Owner's Investment Analysis
A regulated electric utility in Kansas and Missouri with a stable regional-monopoly moat, but not an exceptional high-ROIC business. At the current price of about $82.85, EVRG trades at roughly 22.1x P/E with a 3.36% dividend yield, inside a fair-value band of $65-80 with no clear margin of safety. Rating Watch: the ideal buy range is $55-65.
39/100
NiSource: A Deep-Dive Value Investing Research Report
A six-state regulated gas-and-electric utility with a strong moat, but capital spending devours cash and growth runs on equity issuance and debt; at $46.77 the stock already prices in optimistic data-center expectations, leaving an inadequate margin of safety. Rating: Watch.
39/100
FirstEnergy Value Investing Deep Dive
A regulated transmission and distribution utility serving 6+ million customers. Governance repair plus a return to investment-grade credit, with a $36 billion investment plan for 2026-2030; the current forward PE of about 17x leaves limited margin of safety, and the ideal buy range is $30-35.
35/100
23Buffett
Eversource Energy: A Long-Term Business Owner's Deep Dive
New England's largest energy delivery system, a regulated electric/gas/water utility serving 4.6 million customers. Connecticut regulation, the FERC ROE dispute, and a massive capex program keep the valuation under pressure; ideal buy at $55-62. Rating Watch: a durable, defensive cash-distribution asset whose return ceiling is capped by regulators, trading near fair value with no meaningful margin of safety at the current price.
41/100
PPL Corporation Deep-Value Research
A pure-play U.S. regulated utility (Kentucky/Pennsylvania/Rhode Island, 3.6 million customers) with clear 2026-2029 guidance of $23 billion in capex and 6%-8% EPS growth. Around $36 the stock already sits at the upper edge of fair value, so the quality is recognized while the safety margin is thin. Rating Watch, with an ideal buy range of $29-32.
39/100
NRG Energy: A Long-Term Business Owner's Deep Dive
An integrated energy platform with about 8 million customers, roughly 25GW of owned generation, and the Vivint smart-home subscription business. The LS Power consolidation doubled generation capacity but pushed leverage higher, and at around $138 the stock sits near the upper end of fair value. Rating Watch: the ideal buy range is $95-115.
39/100
37Buffett
DTE Energy: A Long-Term Owner's Perspective on a U.S. Regulated Utility
DTE Energy is a Michigan regulated utility spanning electricity, natural gas, and non-utility commercial energy segments. The business is understandable and earnings are steady, but the $145 share price already sits in a fair-to-rich valuation range. Research rating Watch: the ideal buy range is $90-110.
42/100
51Buffett
WEC Energy Group Deep Dive: A High-Quality Utility, but Its Premium Stability Is Already Fully Priced In
A regulated electric-and-gas distributor across four Midwest states plus a 60% transmission stake in ATC, with 23 consecutive years of dividend increases; but a 22.6x PE already sits at the upper bound, the $37.5B capital plan must be plugged with dilution, and the dividend yield trails Treasuries, making $85-100 the ideal buy range.
40/100
22Buffett
PEG Long-Term Value Investment Report
New Jersey's leading regulated electric-and-gas utility, plus 3,758 MW of nuclear power capacity; conservative Owner Earnings of $1.87 billion imply roughly 21-22x OE, and the current price of $80.07 sits near the top of the fair-value range, with no clear margin of safety.
35/100
Consolidated Edison: A Long-Term Business Owner's View
The leading regulated electric, gas, and steam utility serving the New York metro area, with a sturdy franchise and a deep moat, yet at the current 107.70 dollars the stock already sits near the top of its fair-value range; a 3.3% dividend yield trailing the 4.56% 10-year Treasury leaves little visible margin of safety. Rating Watch: a high-quality but capital-intensive city utility whose returns are capped by regulation, where today's price looks holdable rather than a deeply undervalued bargain.
41/100
31Buffett
Entergy: A Research Report Through a Long-Term Corporate Owner's Lens
A vertically integrated utility across four Southern U.S. states, with a 2026-2029 capital plan of $57 billion and adjusted EPS guidance of $4.25-4.45; at $112 the stock sits at the upper edge of fair value and the middle of the optimistic range, leaving no obvious margin of safety. Rating: Watch.
43/100
Sempra: A Long-Term Owner's Research Report
A three-legged energy-infrastructure platform: California's SDG&E and SoCalGas, Texas's Oncor, and LNG infrastructure. At about $92.8 the stock sits at the upper edge of fair value, slightly above; the ideal buy zone is $65-80. Rating: Watch.
43/100
46Buffett
NextEra Energy: A Long-Term Owner's Perspective
FPL's regulated moat plus NEER's renewables platform still make for a top-tier infrastructure business, but at $88.55 the stock already prices in much of the upside; layered with Dominion merger execution risk, the bid discount is insufficient. Rating: Watch.
41/100
35Buffett
The Southern Company: A Long-Term Owner's Perspective
The Southeast's leading regulated utility, with 25 consecutive years of dividend increases; new Vogtle nuclear units entering rate base plus data-center load support mid-term growth, but 2026-2030 capital spending of $81 billion and heavy reliance on external financing, while the current PE of 20.8x and PB of 2.96x already embed a defensive-plus-growth premium, with an ideal buy at $60-72.
40/100
Xcel Energy: A Long-Term Owner's Perspective
An 8-state regulated utility riding an AI data center-driven capex cycle; FY2026 ongoing EPS guidance of $4.04-4.16, long-term EPS growth of 6-8%+, dividend yield of 2.8%; fair value of $68-80 at 1.8-2.1x P/B, current price of $81.08 is slightly rich, with Owner Earnings weighed down by capex.
40/100
42Buffett
American Electric Power In-Depth Value Investment Analysis
A high-quality regulated grid leader, but the 2026-2030 $78 billion capital plan relies heavily on equity financing and dilution risk is real; at about $129 it lacks a margin of safety, with an ideal entry range of $95-110.