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6 Utility Stocks With Upside

1. The AES Corporation (AES - Get Report) is a power company with global presence and owns a portfolio of electricity generation and distribution businesses in 28 countries.

Consolidated revenue increased 16% to $4.5 billion in the second quarter of 2011 owing to favorable foreign currency impact, contributions from new businesses from Ballylumford in Northern Ireland, Angamos in Chile, Maritza in Bulgaria, and growing demand at its Brazilian utilities.

EPS improved to 32 cents from 24 cents during the second quarter of 2010. On the earnings front, Paul Hanrahan, AES CEO, said, "Compared to the first quarter of this year, adjusted EPS growth reflects improvements in existing operations, as well as income from new construction projects and our recent acquisition in Northern Ireland. In addition, I am pleased with our recent progress on our remaining construction projects and we remain on track to achieve our 2011 guidance". Consolidated gross margin came lower at 22.5% compared to 25.5% in the second quarter of 2010 due to higher fixed costs in Latin America and lower volumes and spot prices at its Europe and Asia Generation businesses.

For full-year 2011, the company has guided EPS to range from $1.08 to $1.14. Analysts polled by Bloomberg project 57% upside over the next one year with 83% buy ratings. The stock has more than doubled in the last one year and is trading at 9.7 times its estimated 2011 earnings.

>>To see these stocks in action, visit the 6 Utility Stocks With Upside portfolio on Stockpickr.

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