Within the utilities sector, short sellers remain heavily concentrated in electric utilities, with several electricity producers and multi-utility companies ranking among the most heavily shorted stocks in the market.
Otter Tail (OTTR) and Hawaiian Electric Industries (HE) recorded the highest short interest among utilities stocks with a market capitalization of over $2B.
The utilities sector (XLU) comprises companies involved in services like electricity, natural gas, and water, among other services.
Otter Tail (OTTR) was the most shorted stock in the utilities sector, with short interest at 11.91% of its shares outstanding, followed by Hawaiian Electric Industries (HE) at 11.29%, reflecting elevated bearish positioning in both stocks.
Seeking Alpha Quant ratings and analysts are cautious and have rated OTTR as a Hold, while Wall Street analysts are bullish and have rated it a Buy.
Hawaiian Electric Industries (HE) was rated a Hold by Seeking Alpha Quant ratings and Wall Street analysts. However, Seeking Alpha analysts rated the stock a Buy.
At the other end of the spectrum, Brookfield Infrastructure Partners (BIP) and NextEra Energy (NEE) were among the least shorted utilities stocks, with short interest of 0.21% and 1.55%, respectively.
The top five most shorted utilities stocks with a market capitalization above $2B (as a percentage of shares outstanding) are:
- Otter Tail (OTTR) 11.91% short interest
- Hawaiian Electric Industries (HE) 11.29%
- Oklo (OKLO) 10.86%
- IDACORP (IDA) 8.13%
- Alliant Energy (LNT) 7.60%
The five least shorted utilities stocks, with a market capitalization above $2B, are: