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ESOCF - Choosing The Most Sensible Utility Name Among An Extremely Insensible Sector
Enel Societa Per Azioni
Summary
The Utilities sector, just like the market as a whole, is trading at a high multiple, both historically (relative basis) as well as on an absolute basis.
A multiple of ~20x is neither cheap, nor attractive, and that's especially true for the Utilities sector that trade with a 21.1x multiple, which is full 2 points higher than the S&P 500's multiple of 19.1x.
Source: Yardeni Research
In this article, we are focusing on the largest utilities in the world, out of which 5 are based in the US. We are trying to see whether