Top 3 Utilities Stocks That May Rocket Higher In Q4

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.

Southern Co (NYSE:SO)

• On Nov. 20, Barclays analyst Nicholas Campanella maintained Southern with an Equal-Weight rating and lowered the price target from $98 to $91. The company's stock fell around 4% over the past five days and has a 52-week low of $80.46.
• RSI Value: 25.8
• SO Price Action: Shares of Southern fell 0.1% to close at $85.49 on Tuesday.
• Edge Stock Ratings: 36.03 Momentum score with Value at 60.59.

Duke Energy Corp (NYSE:DUK) 

• On Nov. 20, Duke Energy proposed new investments in North Carolina to boost reliability and support economic growth across the state. “Our goal is to deliver reliable power at the lowest possible cost for customers,” said Kendal Bowman, Duke Energy’s North Carolina president. “It’s important to strike the right balance of prioritizing investments that enhance the energy grid for current and future needs while also maximizing cost-saving measures for our customers.” The company's stock fell around 6% over the past month and has a 52-week low of $105.20.
• RSI Value: 25.6
• DUK Price Action: Shares of Duke Energy rose 0.1% to close at $115.24 on Tuesday.
• Benzinga Pro’s charting tool helped identify the trend in DUK stock.

WEC Energy Group Inc (NYSE:WEC)

• On Dec. 4, WEC Energy Group increased its quarterly dividend from $0.8925 to $0.9525 per share. The company's stock fell around 7% over the past month and has a 52-week low of $91.94.
• RSI Value: 24.9
• WEC Price Action: Shares of WEC Energy fell 0.1% to close at $104.64 on Tuesday.
• Benzinga Pro’s signals feature notified of a potential breakout in WEC shares.

Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare.

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