5 European Utility Stocks to Buy Now

In this article, we discuss the 5 European utility stocks to buy now. If you want to read our discussion on the developments in the European utility sector, go directly to 10 European Utility Stocks to Buy Now.

5. ENGIE SA (OTC:ENGIY)

Market Capitalization: $32.03 billion

ENGIE SA (OTC:ENGIY) is a La Défense, France-based utility company involved in generating and transmitting energy through natural gas, nuclear, and renewable energy sources.

ENGIE SA (OTC:ENGIY) offers an attractive dividend yield of 6.83% as of August 17. The yield translates into a forward annual dividend of $0.90 per share.

According to experts, ENGIE SA (OTC:ENGIY) is delivering on its restructuring plan. All the headline numbers in the financial statements came in above the consensus forecasts for Q2 2022. ENGIE SA (OTC:ENGIY) has been able to lower its dependence on Russian natural gas from 15 terawatt hours to four terawatt hours only as of the second quarter of the year. Like E.ON SE (OTC:EONGY), the company also reduced its stake in the Nord Stream 1 gas pipeline from $609.9 million to $304.6. Furthermore, ENGIE SA (OTC:ENGIY) has geared itself to survive the extreme weather without the need for Russian natural gas. The lack of reliance on Russian gas sets the company apart from its competitors.