Utilities

China Gas Holdings runs one of China’s large city-gas networks, serving homes and businesses with recurring energy demand. Its scale, cash generation, and above-sector dividend stand out, while any recovery in connections, industrial demand, or service mix could reshape sentiment.

Vector Limited runs essential electricity and gas infrastructure in New Zealand while expanding through smart metering and digital services. Recent results showed stronger profitability, solid cash generation, and balance-sheet metrics that compare well with many utility peers.

Centuri builds and maintains gas and electric utility networks across North America. Its appeal comes from exposure to long-term infrastructure spending, rising revenue, and improving leverage, while the key debate centers on whether those gains can turn into stronger margins and cash flow.

Ameren Illinois is a regulated electric and gas utility in Illinois, built around essential infrastructure and steady service territories. Strong margins and a solid balance sheet stand out, while grid upgrades and electrification trends support its long-term relevance.