Top 15 Utilities Stocks by Marvin Scores
Marvin ranked 15 Utilities stocks by Overall score as of 2026. American Electric Power and American States Water lead, and the list includes electric, water and gas companies, each with different strengths and weak spots.
Utilities companies supply electricity, natural gas and water. Their services are needed in most economic conditions, so the sector is often seen as steadier than many others. Steady does not mean risk-free, and these companies differ a lot in debt, growth and cash generation.
This list shows the 15 Utilities stocks that score highest under Marvin's rules. Each pick has a short note on its figures: growth, margins, return on equity and debt where available, plus one thing to watch.
Keep in mind that the scores compare each company only with others in its own industry, such as regulated water or regulated gas. This is a research starting point, not a recommendation, and a high score does not predict future results.
The list
How Marvin ranked these stocks
Marvin included companies above a minimum size threshold and ranked the Utilities sector by Overall score, highest first, with a cap on how many stocks from any one industry can appear. Overall, Quality and Opportunity scores are relative to each company's own industry. A score therefore shows how a company compares with similar businesses today, not with all stocks. Ties in Overall score are shown in the order Marvin's rules produced.
Companies above about $300 million in size, ranked by Marvin scores (0-100, relative to each company's own industry). The Utilities sector, highest Overall score first; at most 4 per industry.
The stocks, one by one
American Electric Power Company, Inc. AEP
A regulated electric company with an Overall score of 87 and a Quality score of 94. Revenue grew 10.9% last fiscal year and operating margin is 24.0%, both healthy. Caution: debt-to-equity of 1.65 shows meaningful reliance on borrowing.
American States Water Company AWR
A regulated water company with an Overall score of 95. Operating margin of 31.8% is strong, and debt-to-equity of 0.65 is fairly low. Revenue grew 10.5%. Caution: free cash flow margin is only 3.0%, so little cash is left after investment.
Genie Energy Ltd. GNE
A regulated electric company with an Overall score of 93, helped by an Opportunity score of 95. Debt-to-equity is very low at 0.03 and revenue grew 18.1%. Caution: operating margin is thin at 4.1%, and no free cash flow figure is available.
Artesian Resources Corporation ARTNA
A regulated water company with an Overall score of 87 and an operating margin of 25.0%, which is solid. Revenue growth was modest at 4.6%. Caution: free cash flow margin is -15.5%, meaning it spent more cash than it generated.
Public Service Enterprise Group Incorporated PEG
A regulated electric company with an Overall score of 90 and a Quality score of 90. Revenue grew 18.3% and operating margin is 23.1%. Caution: free cash flow margin is just 2.2%, and debt-to-equity of 1.42 is on the higher side.
Essential Utilities, Inc. WTRG
A regulated water company with an Overall score of 92. Operating margin of 35.1% is very strong and revenue grew 18.6%. Caution: return on equity is a modest 7.9%, and no free cash flow figure is available to show how much cash it keeps.
NextEra Energy, Inc. NEE
A regulated electric company with a high Quality score of 97 and an Overall score of 96. Operating margin is 29.5% and return on equity is 14.8%. Caution: debt-to-equity of 1.87 is relatively heavy, and free cash flow data is missing.
New Jersey Resources Corporation NJR
A regulated gas company with an Overall score of 87, driven by an Opportunity score of 93. Revenue grew 13.4% and return on equity is 13.9%. Caution: its Quality score of 74 is lower than most peers on this list, and free cash flow data is missing.
Unitil Corporation UTL
A diversified utility with an Overall score of 90 and balanced Quality and Opportunity scores. Operating margin is 18.9% and revenue grew 8.3%. Caution: free cash flow margin is -7.6%, so it spent more than it generated, and debt-to-equity is 1.50.
The AES Corporation AES
A diversified utility with an Overall score of 82 lifted by an Opportunity score of 93. Return on equity is high at 37.9%. Caution: Quality is only 41, revenue changed by -0.4%, free cash flow margin is -13.2%, and operating margin and debt data are missing.
ONE Gas, Inc. OGS
A regulated gas company with an Overall score of 80 and a Quality score of 87. Return on equity is 8.1% and debt-to-equity is a fairly low 0.96. Caution: growth, margin and cash flow figures are all missing, so the picture is incomplete.
American Water Works Company, Inc. AWK
A regulated water company with an Overall score of 72. Operating margin is very strong at 37.1% and revenue grew 10.1%. Caution: free cash flow margin is -19.6%, meaning heavy spending outweighed cash generated, and debt-to-equity is 1.34.
Avista Corporation AVA
A diversified utility with an Overall score of 74. Operating margin is 18.8% and return on equity is 8.0%. Caution: revenue grew only 1.3%, free cash flow margin is -5.4%, and no debt-to-equity figure is available.
UGI Corporation UGI
A regulated gas company with an Overall score of 74 and a Quality score of 81. Return on equity is 12.9% and operating margin is 16.2%. Caution: revenue grew just 1.1% and free cash flow margin is thin at 2.6%.
NiSource Inc NI
A regulated gas company with an Overall score of 67, the lowest here. Revenue growth of 23.5% is the fastest on the list, and operating margin is 27.6%. Caution: free cash flow margin is -16.1%, and debt-to-equity of 1.70 is high.
Common questions
Why do the scores compare companies only within their own industry?
Water, gas and electric companies operate under different conditions, so their margins and debt levels are not directly comparable. Scoring each company against its industry peers gives a fairer picture. It also means a score in one industry is not the same as the same score in another.
What does debt-to-equity tell me about a utility?
It compares what a company owes with the value of its shareholders' stake. Utilities often borrow to build and maintain networks, so some debt is normal. A higher ratio means more reliance on borrowing, which is worth checking alongside the company's cash generation.
Does a high Overall score mean a stock is a good investment?
No. Marvin's scores describe how a company compares with others in its industry today, based on financial figures. They do not predict future results or say whether a stock is a good fit for you. Treat them as a starting point for your own research.
Keep reading
- Top 15 Utilities Stocks With the Strongest Businesses
- Top 15 Utilities Stocks by Marvin's Opportunity Score
- Top 15 Regulated Electric Stocks
- Top 20 Defensive Stocks Ranked by Marvin Business Quality
Free account. Build your own AI-made watchlists, follow Marvin's scores and share lists.
Create a free account
Marvin's scores (0-100) compare each company with others in its industry today. Growth and margin figures come from SEC filings. This is general information, not personal investment advice or a recommendation to buy or sell anything. Do your own research.