Gas and water utilities show value opportunities; electricity utilities appear overvalued, says analyst Fred Piard.

Fred Piard's analysis of the utilities sector finds gas utilities near historical value and quality baselines, while water utilities are undervalued by 21%. In contrast, electricity and multi-utilities are currently overvalued by 14%. The Fidelity MSCI Utilities Index ETF closely tracks the benchmark XLU in risk-adjusted returns, but XLU offers advantages in liquidity, valuation, and growth metrics. Investors may find value in 10 stocks that are cheaper than their peers as of June, with exclusive portfolio access available through Quantitative Risk & Value membership.