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, according to Benzinga Pro.

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

Mdu Resources Group Inc (NYSE:MDU)

  • On Aug. 6, MDU Resources posted mixed quarterly results. “We delivered solid second quarter results while continuing to position the company for long-term growth,” said Nicole A. Kivisto, president and CEO of MDU Resources. The company’s stock fell around 6% over the past month and has a 52-week low of $15.76.
  • RSI Value: 29
  • MDU Price Action: Shares of MDU Resources slipped 1.1% to close at $19.24 on Thursday.
  • Edge Stock Ratings: Value at 78.40.

National Grid Plc (NYSE:NGG)   

  • On July 1, National Grid Transco announced it agreed to invest $1.75 billion for a 35% stake in Joulent. Zoë Yujnovich, Chief Executive of National Grid, said, “Our investment in Joulent is a disciplined, partner-led investment in contracted critical infrastructure for the AI-driven large load economy. Through National Grid Ventures, we are gaining exposure to a major source of electricity demand growth with strong partners. It extends National Grid’s core strengths of investing in long-duration infrastructure with predictable cash flows and attractive risk-adjusted returns.” The company’s stock fell around 5% over the past month and has a 52-week low of $69.99.
  • RSI Value: 26.3
  • NGG Price Action: Shares of National Grid fell 1.2% to close at $76.38 on Thursday.
  • Benzinga Pro’s charting tool helped identify the trend in NGG stock.

Algonquin Power & Utilities Corp (NYSE:AQN)

  • On Aug. 28, Algonquin agreed to sell its ownership stake in Chilean Utility. “This transaction represents an important step in simplifying our geographic footprint while concurrently recycling capital into our core regulated utility businesses,” said Rod West, Chief Executive Officer of AQN. The company’s stock fell around 7% over the past month and has a 52-week low of $5.32.
  • RSI Value: 25
  • AQN Price Action: Shares of Algonquin Power fell 2.9% to close at $5.43 on Thursday.
  • Benzinga Pro’s newsfeed feature notified investors about recent AQN news.

How do other stocks rank? Get the full BZ Edge Rankings breakdown here.

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