Utilities

Multi-Utilities

16 companies under coverage.

Coverage

Multi-Utilities

PG&E Corp (PCG)

BUY. 12-month probability-weighted target $19 (+47% vs spot). Gross Margin explains 55% of Monte Carlo outcome variance.

PCGEquity ResearchMonte Carlo

10 October 2026Rating: BUY · Fair value vs price +40.3%

Equity Research

DTE Energy Company (DTE)

BUY. 12-month probability-weighted target $147 (+16% vs spot). Gross Margin explains 71% of Monte Carlo outcome variance.

DTEEquity ResearchMonte Carlo

10 October 2026Rating: BUY · Fair value vs price +14.0%

Equity Research

CMS Energy Corporation (CMS)

BUY. 12-month probability-weighted target $77 (+18% vs spot). Gross Margin explains 57% of Monte Carlo outcome variance.

CMSEquity ResearchMonte Carlo

10 October 2026Rating: BUY · Fair value vs price +13.7%

Equity Research

Sempra Energy (SRE)

BUY. 12-month probability-weighted target $92 (+13% vs spot). P/E Multiple explains 65% of Monte Carlo outcome variance.

SREEquity ResearchMonte Carlo

10 October 2026Rating: BUY · Fair value vs price +12.0%

Equity Research

NiSource Inc (NI)

BUY. 12-month probability-weighted target $48 (+19% vs spot). Gross Margin explains 53% of Monte Carlo outcome variance.

NIEquity ResearchMonte Carlo

10 October 2026Rating: BUY · Fair value vs price +11.1%

Equity Research

CenterPoint Energy Inc (CNP)

BUY. 12-month probability-weighted target $45 (+16% vs spot). Gross Margin explains 58% of Monte Carlo outcome variance.

CNPEquity ResearchMonte Carlo

10 October 2026Rating: BUY · Fair value vs price +8.7%

Equity Research

Ameren Corp (AEE)

HOLD. 12-month probability-weighted target $115 (+12% vs spot). P/E Multiple explains 51% of Monte Carlo outcome variance.

AEEEquity ResearchMonte Carlo

10 October 2026Rating: HOLD · Fair value vs price +8.0%

Equity Research

Xcel Energy Inc (XEL)

HOLD. 12-month probability-weighted target $82 (+11% vs spot). P/E Multiple explains 49% of Monte Carlo outcome variance.

XELEquity ResearchMonte Carlo

10 October 2026Rating: HOLD · Fair value vs price +6.1%

Equity Research

Nextera Energy Inc (NEE)

HOLD. 12-month probability-weighted target $84 (+8% vs spot). P/E Multiple explains 71% of Monte Carlo outcome variance.

NEEEquity ResearchMonte Carlo

10 October 2026Rating: HOLD · Fair value vs price +5.2%

Equity Research

Dominion Energy Inc (D)

HOLD. 12-month probability-weighted target $66 (+6% vs spot). P/E Multiple explains 51% of Monte Carlo outcome variance.

DEquity ResearchMonte Carlo

10 October 2026Rating: HOLD · Fair value vs price +5.0%

Equity Research

Pinnacle West Capital Corp (PNW)

HOLD. 12-month probability-weighted target $106 (+7% vs spot). Gross Margin explains 68% of Monte Carlo outcome variance.

PNWEquity ResearchMonte Carlo

10 October 2026Rating: HOLD · Fair value vs price +1.3%

Equity Research

OGE Energy Corporation (OGE)

HOLD. 12-month probability-weighted target $48 (+3% vs spot). Gross Margin explains 51% of Monte Carlo outcome variance.

OGEEquity ResearchMonte Carlo

10 October 2026Rating: HOLD · Fair value vs price +0.8%

Equity Research

Consolidated Edison Inc (ED)

HOLD. 12-month probability-weighted target $106 (+0% vs spot). Gross Margin explains 58% of Monte Carlo outcome variance.

EDEquity ResearchMonte Carlo

10 October 2026Rating: HOLD · Fair value vs price +0.5%

Equity Research

Black Hills Corporation (BKH)

HOLD. 12-month probability-weighted target $73 (-5% vs spot). Gross Margin explains 54% of Monte Carlo outcome variance.

BKHEquity ResearchMonte Carlo

10 October 2026Rating: HOLD · Fair value vs price -1.8%

Equity Research

MDU Resources Group Inc (MDU)

HOLD. 12-month probability-weighted target $19 (-1% vs spot). Gross Margin explains 65% of Monte Carlo outcome variance.

MDUEquity ResearchMonte Carlo

11 October 2026Rating: HOLD · Fair value vs price -4.0%

Equity Research

NorthWestern Corporation (NWE)

HOLD. 12-month probability-weighted target $70 (-5% vs spot). Gross Margin explains 54% of Monte Carlo outcome variance.

NWEEquity ResearchMonte Carlo

10 October 2026Rating: HOLD · Fair value vs price -5.2%