The Moat Index

The widest moats in the scored universe.

All 99 scored Utilities companies — scored nightly from primary SEC filings, 0–100 on five investor questions. Higher means a more durable business. The method is fully public; the full universe is in the A–Z directory and the sector hubs.

Current score records: moat-index@2.0.0.

The Utilities hub: stats, leaders, and quality on sale →

The map — moat vs. price · Utilities

Dividers sit at Moat Score 80 (a Wide moat) and at 10% below conservative value — the same bars the methodology uses. The x-axis starts at 55 because this set is the top of the Index; the vertical scale is compressed beyond ±25% (every tick shows its true value), and anything priced more than 26× value sits on the "≤ −2500%" line — hover a dot (or open the table) for its exact reading. 24 companies have no recent price data and aren't plotted — the table view lists them.

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All 99 scored · Utilities

#	Company	Ticker	Sector	Mkt cap	Moat Score	Moat	Price vs. high estimate
1	REPUBLIC SERVICES, INC.	RSG	Utilities	$66.3B	75	Narrow moat	113% above high estimate
2	KINDER MORGAN, INC.	KMI	Utilities	$72.0B	70	Narrow moat	146% above high estimate
3	CLEAN HARBORS, INC	CLH	Utilities	$16.1B	66	Narrow moat	123% above high estimate
4	Waste Management, Inc	WM	Utilities	$93.9B	65	Narrow moat	127% above high estimate
5	CONSOLIDATED WATER CO. LTD.	CWCO	Utilities	$460.4M	64	Narrow moat	39% above high estimate
6	Genie Energy Ltd.	GNE	Utilities	$377.6M	62	Narrow moat	41% below high estimate
7	WASTE CONNECTIONS, INC.	WCN	Utilities	$43.1B	54	Shallow moat	187% above high estimate
8	OTTER TAIL CORPORATION	OTTR	Utilities	$3.8B	54	Shallow moat	26% below high estimate
9	ATMOS ENERGY CORP	ATO	Utilities	$28.3B	53	Shallow moat	77% above high estimate
10	PURE CYCLE CORPORATION	PCYO	Utilities	$255.6M	52	Shallow moat	94% above high estimate
11	PUBLIC SERVICE ENTERPRISE GROUP INC	PEG	Utilities	$38.6B	52	Shallow moat	83% above high estimate
12	ANTERO MIDSTREAM CORPORATION	AM	Utilities	$10.7B	51	Shallow moat	132% above high estimate
13	NATIONAL FUEL GAS CO	NFG	Utilities	$7.3B	50	Shallow moat	38% above high estimate
14	ONE Gas, Inc.	OGS	Utilities	$4.9B	50	Shallow moat	96% above high estimate
15	Clearway Energy, Inc.	CWEN	Utilities	$6.8B	49	Shallow moat	11% below high estimate
16	CHENIERE ENERGY, INC.	LNG	Utilities	—	48	Shallow moat	No price data
17	American States Water Co	AWR	Utilities	$3.4B	48	Shallow moat	83% above high estimate
18	AVISTA CORP	AVA	Utilities	$3.4B	47	Shallow moat	11% above high estimate
19	CALIFORNIA WATER SERVICE GROUP	CWT	Utilities	$3.0B	46	Shallow moat	116% above high estimate
20	HALLADOR ENERGY CO	HNRG	Utilities	$727.8M	45	Shallow moat	262% above high estimate
21	Vistra Corp.	VST	Utilities	$54.9B	45	Shallow moat	223% above high estimate
22	NISOURCE INC.	NI	Utilities	$21.7B	45	Shallow moat	157% above high estimate
23	DUKE ENERGY CORPORATION	DUK	Utilities	$98.0B	44	Shallow moat	39% above high estimate
24	WEC ENERGY GROUP, INC.	WEC	Utilities	$36.4B	44	Shallow moat	43% above high estimate
25	DT Midstream, Inc.	DTM	Utilities	$14.4B	44	Shallow moat	117% above high estimate
26	MIDDLESEX WATER COMPANY	MSEX	Utilities	$1.0B	44	Shallow moat	81% above high estimate
27	TARGA RESOURCES CORP.	TRGP	Utilities	$60.2B	43	Shallow moat	313% above high estimate
28	XCEL ENERGY INC	XEL	Utilities	$49.1B	43	Shallow moat	149% above high estimate
29	CASELLA WASTE SYSTEMS, INC.	CWST	Utilities	$5.8B	43	Shallow moat	1046% above high estimate
30	NEXTERA ENERGY INC	NEE	Utilities	$183.2B	43	Shallow moat	49% above high estimate
31	Essential Utilities, Inc.	WTRG	Utilities	—	42	Shallow moat	No price data
32	ALLIANT ENERGY CORP	LNT	Utilities	$18.8B	42	Shallow moat	145% above high estimate
33	EVERGY, INC.	EVRG	Utilities	—	42	Shallow moat	No price data
34	CONSTELLATION ENERGY CORPORATION	CEG	Utilities	$81.8B	42	Shallow moat	218% above high estimate
35	WISCONSIN ELECTRIC POWER COMPANY	WELPP	Utilities	$2.2B	42	Shallow moat	No price data
36	PINNACLE WEST CAPITAL CORP	PNW	Utilities	$12.8B	41	Shallow moat	69% above high estimate
37	OPAL FUELS INC.	OPAL	Utilities	—	41	Shallow moat	No price data
38	NRG Energy, Inc	NRG	Utilities	$25.1B	41	Shallow moat	12% below high estimate
39	ONEOK INC /NEW/	OKE	Utilities	$57.8B	40	Shallow moat	21% above high estimate
40	NEW JERSEY RESOURCES CORPORATION	NJR	Utilities	$5.9B	40	No moat	19% above high estimate
41	IDACORP INC	IDA	Utilities	$8.0B	40	No moat	70% above high estimate
42	NORTHWEST NATURAL HOLDING COMPANY	NWN	Utilities	$2.1B	39	No moat	71% above high estimate
43	CHESAPEAKE UTILITIES CORP	CPK	Utilities	$3.2B	38	No moat	95% above high estimate
44	Spire Inc.	SR	Utilities	$4.8B	38	No moat	5% above high estimate
45	AMERICAN WATER WORKS COMPANY, INC.	AWK	Utilities	—	38	No moat	No price data
46	OGE ENERGY CORP.	OGE	Utilities	$10.0B	38	No moat	90% above high estimate
47	Strategic Environmental & Energy Resources, Inc.	SENR	Utilities	$1.3M	37	No moat	No price data
48	UGI CORPORATION	UGI	Utilities	—	37	No moat	No price data
49	KINETIK HOLDINGS INC.	KNTK	Utilities	$3.2B	37	No moat	61% above high estimate
50	CENTERPOINT ENERGY INC	CNP	Utilities	$27.9B	36	No moat	139% above high estimate
51	Kodiak Gas Services, Inc.	KGS	Utilities	$5.7B	35	No moat	541% above high estimate
52	ARTESIAN RESOURCES CORPORATION	ARTNA	Utilities	—	35	No moat	No price data
53	Southwest Gas Holdings, Inc.	SWX	Utilities	$6.7B	35	No moat	202% above high estimate
54	EXELON CORPORATION	EXC	Utilities	$46.9B	35	No moat	12% above high estimate
55	Centuri Holdings, Inc.	CTRI	Utilities	$2.8B	34	No moat	No price data
56	EDISON INTERNATIONAL	EIX	Utilities	$30.1B	33	No moat	40% above high estimate
57	CLEAN ENERGY TECHNOLOGIES, INC.	CETY	Utilities	$8.6M	33	No moat	No price data
58	RenX Enterprises Corp.	RENX	Utilities	$1.8M	33	No moat	No price data
59	CLEAN ENERGY FUELS CORP.	CLNE	Utilities	$467.2M	33	No moat	No price data
60	YORK WATER CO	YORW	Utilities	$442.9M	33	No moat	59% above high estimate
61	Ocean Power Technologies, Inc.	OPTT	Utilities	$32.5M	33	No moat	No price data
62	BLACK HILLS CORP /SD/	BKH	Utilities	$5.6B	32	No moat	55% above high estimate
63	RGC Resources, Inc.	RGCO	Utilities	$245.4M	32	No moat	95% above high estimate
64	AMEREN CORP	AEE	Utilities	$30.4B	32	No moat	46% above high estimate
65	Energy Transfer LP	ET	Utilities	$69.7B	31	No moat	13% above high estimate
66	ORMAT TECHNOLOGIES, INC.	ORA	Utilities	$6.4B	31	No moat	185% above high estimate
67	H2O AMERICA	HTO	Utilities	$2.3B	31	No moat	51% above high estimate
68	DTE ENERGY CO	DTE	Utilities	$30.1B	30	No moat	94% above high estimate
69	EVERSOURCE ENERGY	ES	Utilities	$27.4B	30	No moat	24% above high estimate
70	TXNM Energy, Inc.	TXNM	Utilities	$6.3B	29	No moat	208% above high estimate
71	WILLIAMS COMPANIES, INC.	WMB	Utilities	$89.6B	29	No moat	124% above high estimate
72	CMS ENERGY CORP	CMS	Utilities	$22.2B	29	No moat	23% above high estimate
73	PORTLAND GENERAL ELECTRIC COMPANY	POR	Utilities	$6.0B	28	No moat	37% above high estimate
74	American Electric Power Company, Inc.	AEP	Utilities	$70.6B	27	No moat	6% above high estimate
75	ENTERGY CORP /DE/	ETR	Utilities	$50.8B	27	No moat	59% above high estimate
76	CONSOLIDATED EDISON INC	ED	Utilities	$39.7B	26	No moat	96% above high estimate
77	SOUTHERN CO	SO	Utilities	$105.1B	26	No moat	47% above high estimate
78	Deep Isolation Nuclear, Inc.	DBHL	Utilities	—	26	No moat	No price data
79	Quest Resource Holding Corporation	QRHC	Utilities	$27.0M	24	No moat	20% above high estimate
80	BIMERGEN ENERGY CORPORATION	BESS	Utilities	$12.8M	24	No moat	No price data
81	New Fortress Energy Inc.	NFE	Utilities	$93.0M	24	No moat	91% below high estimate
82	Talen Energy Corporation	TLN	Utilities	$16.7B	24	No moat	No price data
83	AVALON HOLDINGS CORPORATION	AWX	Utilities	—	23	No moat	No price data
84	Spruce Power Holding Corporation	SPRU	Utilities	$41.6M	23	No moat	No price data
85	MONTAUK RENEWABLES, INC.	MNTK	Utilities	$240.7M	22	No moat	123% above high estimate
86	Vivakor, Inc.	VIVK	Utilities	$5.2M	20	No moat	No price data
87	NORTHWESTERN ENERGY GROUP, INC.	NWE	Utilities	$4.4B	20	No moat	112% above high estimate
88	CADIZ INC	CDZI	Utilities	$277.9M	20	No moat	No price data
89	DOMINION ENERGY, INC	D	Utilities	$61.4B	18	No moat	172% above high estimate
90	STABILIS SOLUTIONS, INC.	SLNG	Utilities	$65.1M	18	No moat	4586% above high estimate
91	XPLR INFRASTRUCTURE, LP	XIFR	Utilities	$1.2B	18	No moat	70% below high estimate
92	Global Water Resources, Inc.	GWRS	Utilities	$203.9M	17	No moat	106% above high estimate
93	PERMA FIX ENVIRONMENTAL SERVICES INC	PESI	Utilities	$308.1M	17	No moat	No price data
94	VENTURE GLOBAL, INC.	VG	Utilities	$37.0B	17	No moat	22% above high estimate
95	FIRSTENERGY CORP	FE	Utilities	$28.0B	16	No moat	147% above high estimate
96	PPL Corp	PPL	Utilities	$26.6B	15	No moat	217% above high estimate
97	HAWAIIAN ELECTRIC INDUSTRIES, INC.	HE	Utilities	$2.3B	14	No moat	4% above high estimate
98	SUMMIT NETWORKS INC.	SNTW	Utilities	$9.0M	13	No moat	No price data
99	SUSGLOBAL ENERGY CORP.	SNRG	Utilities	$1.9M	11	No moat	No price data

Scores reflect business quality, not buy/sell signals. Sector labels are derived from SEC SIC codes and can differ from GICS classifications. Educational only — not investment advice. See the methodology and disclaimer.