Best utility stocks 2026, scored against 7 investor frameworks

Largest US utility by market capitalization, with the regulated Florida Power and Light franchise plus the dominant unregulated renewables developer in NextEra Energy Resources.

Buffett's framework reads the regulated FPL business as a clean moat. Munger is positive. Lynch likes the renewables growth story. Smith fails on capital intensity. Graham is mixed (cheap on yield, leveraged on capex). Greenblatt picks it up on Magic Formula.

Large US regulated utility with Carolinas and Midwest service territories, focused on capex-driven rate-base growth.

Graham passes on dividend yield and stability. Buffett's framework is positive on the regulated moat. Greenblatt picks it up. Smith fails. Munger is positive on the operational discipline. Lynch is fine with the story.

Large US regulated utility with Georgia Power and Vogtle nuclear plant completion now operational.

Graham passes on dividend yield. Greenblatt picks it up. Buffett's framework is positive post-Vogtle execution. Smith fails. Munger is positive on the regulatory relationship. Lynch is fine with the story.

Large US T&D-focused utility with multi-state service territories and a transmission-heavy growth profile.

Graham passes on dividend stability. Greenblatt picks it up. Buffett's framework is positive on the transmission moat. Smith fails. Munger is positive. Lynch is fine with the story.

Post-Constellation-spinoff pure-play T&D utility, with Northeast and Mid-Atlantic service territories.

Graham passes on dividend coverage. Greenblatt picks it up. Buffett's framework is positive on the regulated franchise. Smith fails. Munger is mixed on operational quality. Lynch is fine with the simplified story.

Multi-state regulated utility with strong Colorado and Upper Midwest service territories and a meaningful renewables pipeline.

Graham passes on dividend stability. Greenblatt picks it up. Buffett's framework is positive. Smith fails. Munger is positive on the constructive regulatory environments. Lynch likes the renewables story.

New York City and Westchester regulated utility, with extremely defensive earnings and the longest US dividend-increase record in the cohort.

Graham passes on dividend stability (47-year streak). Buffett's framework is positive on the moat. Munger is positive. Smith fails. Greenblatt picks it up. Lynch is fine with the story.

New England regulated utility with electric and natural-gas service territories, plus an offshore-wind development exit completed.

Graham passes on dividend coverage. Greenblatt picks it up. Buffett's framework is mixed on the offshore-wind history. Smith fails. Munger is cautious post the offshore-wind divestiture. Lynch is fine with the simplified story.

Wisconsin and Illinois regulated utility with electric and natural-gas service territories and disciplined capex execution.

Graham passes on dividend. Buffett's framework is positive. Munger is positive on the operational discipline. Smith fails. Greenblatt picks it up. Lynch is fine with the story.

Largest US water-and-wastewater utility, with cross-state acquisition strategy and stable rate-base growth.

Buffett's framework passes on the moat (water utilities are even more durable than electric). Munger is positive. Smith fails on capital intensity. Graham fails on multiple. Greenblatt picks it up episodically. Lynch is fine with the demographic story.