Top 2 Utilities Stocks That Are Preparing To Pump In October – Alexander & Baldwin (NYSE:ALEX), Cia Energetica DE Minas (NYSE:CIG)

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.

Companhia Energetica Minas Gerais ADR (NYSE:CIG)

• The company’s stock fell around 9% over the past month and has a 52-week low of $1.59.
• RSI Value: 19.3
• CIG Price Action: Shares of CIG fell 3.1% to close at $1.90 on Friday.
• Edge Stock Ratings: 42.81 Momentum score with Value at 89.89.

Otter Tail Corp (NASDAQ:OTTR)          

• On Aug. 4, Otter Tail reported better-than-expected second-quarter financial results and issued FY25 EPS guidance with its midpoint above estimates. “We are pleased with our second quarter financial results,” said President and CEO Chuck MacFarlane. “Across our businesses, our team members remain committed to our mission – delivering value through building strong electric and manufacturing platforms – amidst dynamic market conditions. The company’s stock fell around 10% over the past month and has a 52-week low of $71.66.
• RSI Value: 19.1
• OTTR Price Action: Shares of Otter Tail fell 1.7% to close at $75.05 on Friday.
• Benzinga Pro’s charting tool helped identify the trend in OTTR stock.

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