Top 3 Utilities Stocks That May Rocket Higher in May

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. Consolidated Water Co Ltd (NASDAQ:CWCO) On May 11, Consolidated Water posted downbeat quarterly earnings. “In Q1, consolidated revenue declined due to revenue declines in our manufacturing and retail segments,” said Consolidated Water CEO Rick McTaggart. The company's stock fell around 10% over the past month and has a 52-week low of $24.32. RSI Value: 29 CWCO Price Action: Shares of Consolidated Water fell 7.7% to close at $30.34 on Tuesday. Edge Stock Ratings: 91.92 Momentum score with Value at 93.51. Hawaiian Electric Industries Inc (NYSE:HE) On May 8, Hawaiian Electric posted weak quarterly earnings. “On April 10, the final legal hurdle to the global tort litigation settlement agreement was cleared when the last of the subrogation insurers withdrew their appeals, enabling us to make our first of four $479 million annual settlement payments. This marks a critical milestone for those who were impacted by the Maui wildfires, and our hearts continue to be with them as they continue on their path of collective healing,” said Scott Seu, HEI president and CEO. The company's stock fell around 14% over the past five days and has a 52-week low of $10.14. RSI Value: 28.7 HE Price Action: Shares of Hawaiian Electric fell 3.1% to close at $13.50 on Tuesday. Benzinga Pro’s charting tool helped identify the trend in HE stock. National Fuel Gas Co (NYSE:NFG) On April 29, National Fuel Gas posted weaker-than-expected quarterly earnings. David P. Bauer, President and Chief Executive Officer of National Fuel Gas Company, said, “National Fuel had a solid second quarter, with adjusted EPS increasing 13% over the prior year. Operationally, our resilient natural gas system and dedicated workforce performed extremely well during the severe weather of Winter Storm Fern, delivering the safe and reliable production, transmission, storage, and distribution services that customers across our businesses expect.” The company's stock fell around 12% over the past month and has a 52-week low of $77.22. RSI Value: 28.5 NFG Price Action: Shares of National Fuel Gas rose 1.2% to close at $80.40 on Tuesday. Benzinga Pro’s signals feature notified of a potential breakout in NFG shares. Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare. Photo via Shutterstock