Top 3 Utilities Stocks Which Could Rescue Your Portfolio This Month

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.

Sunnova Energy International Inc. NOVA

• Sunnova Energy Intl posted better-than-expected quarterly results. "We delivered strong growth in the fourth quarter as we placed a record number of customers into service, which brought our total customer additions in 2022 to 87,000, the midpoint of our guidance," said William J. (John) Berger, founder and Chief Executive Officer of Sunnova. The company’s stock has a 52-week low of $12.46 .
• RSI Value: 29.30
• NOVA Price Action: Shares of Sunnova Energy fell 1.9% to close at $12.69 on Monday.

Altus Power, Inc. AMPS

• Altus Power updated stakeholders that it has no exposure to Silicon Valley Bank, Signature Bank or First Republic Bank or their affiliates. The company’s stock has a 52-week low of $4.26.
• RSI Value: 27.13
• AMPS Price Action: Shares of Altus Power rose 1.1% to close at $5.56 on Monday.

The AES Corporation AES

• AES reported better-than-expected Q4 financial results and announced expected 2023 earnings in-line with analyst expectations. "2022 was another record year for AES, one in which we delivered on all of our financial and strategic objectives. We continue to see massive growth in our renewables business, and in 2022, we signed more PPAs for solar, wind and energy storage than ever before in our history," said Andrés Gluski, AES President and Chief Executive Officer. The company’s stock has a 52-week low of $18.62.
• RSI Value: 28.30
• AES Price Action: Shares of AES gained 1.2% to close at $22.65 on Monday.

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