UGI - Utilities Dashboard - Update
This article series provides a monthly dashboard of industries in each sector of the GICS classification. It compares valuation and quality factors relative to their historical averages in each industry.
Executive summary
The only industry looking underpriced regarding valuation ratios in utilities is power producers/energy traders. However, its profitability is below the historical baseline and it is the only group with a negative median ROE. Other industries look very overpriced, but close to their profitability baseline. However, value is not a good market timer. I think systemic risk is more important than market valuation to