The Utilities sector as a whole closed the day down 0.3% versus the S&P 500, which was up 0.2%. Laggards within the Utilities sector included Ocean Power Technologies ( OPTT), down 1.9%, Sky Solar Holdings ( SKYS), down 4.3%, Centrais Eletricas Brasileiras ( EBR.B), down 3.1%, Just Energy Group ( JE), down 2.9% and Southcross Energy Partners ( SXE), down 5.1%.

TheStreet Ratings Group would like to highlight 3 stocks that pushed the sector lower today:

Centrais Eletricas Brasileiras ( EBR.B) is one of the companies that pushed the Utilities sector lower today. Centrais Eletricas Brasileiras was down $0.07 (3.1%) to $2.20 on light volume. Throughout the day, 18,896 shares of Centrais Eletricas Brasileiras exchanged hands as compared to its average daily volume of 77,200 shares. The stock ranged in price between $2.19-$2.24 after having opened the day at $2.21 as compared to the previous trading day's close of $2.27.

Centrais Eletricas Brasileiras S.A. - Eletrobras, together with its subsidiaries, generates, transmits, and distributes electricity in Brazil. The company projects, builds, and operates generating power plants, and electric power transmission and distribution lines. Centrais Eletricas Brasileiras has a market cap of $3.1 billion and is part of the utilities industry. Shares are down 20.9% year-to-date as of the close of trading on Wednesday.

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TheStreet Ratings rates Centrais Eletricas Brasileiras as a sell. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, weak operating cash flow, poor profit margins and generally disappointing historical performance in the stock itself.

Highlights from TheStreet Ratings analysis on EBR.B go as follows:

  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed compared to the Electric Utilities industry average, but is greater than that of the S&P 500. The net income has decreased by 9.8% when compared to the same quarter one year ago, dropping from $437.17 million to $394.20 million.
  • Net operating cash flow has significantly decreased to $334.91 million or 55.81% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.
  • The gross profit margin for ELETROBRAS-CENTR ELETR BRAS is rather low; currently it is at 15.58%. It has decreased significantly from the same period last year. Regardless of the weak results of the gross profit margin, the net profit margin of 14.59% is above that of the industry average.
  • Looking at the price performance of EBR.B's shares over the past 12 months, there is not much good news to report: the stock is down 50.94%, and it has underformed the S&P 500 Index. In addition, the company's earnings per share are lower today than the year-earlier quarter. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Electric Utilities industry and the overall market, ELETROBRAS-CENTR ELETR BRAS's return on equity significantly trails that of both the industry average and the S&P 500.

You can view the full analysis from the report here: Centrais Eletricas Brasileiras Ratings Report

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At the close, Sky Solar Holdings ( SKYS) was down $0.34 (4.3%) to $7.52 on light volume. Throughout the day, 3,653 shares of Sky Solar Holdings exchanged hands as compared to its average daily volume of 17,600 shares. The stock ranged in price between $7.52-$7.75 after having opened the day at $7.74 as compared to the previous trading day's close of $7.86.

Sky Solar Holdings has a market cap of $422.7 million and is part of the utilities industry. Shares are down 38.2% year-to-date as of the close of trading on Wednesday. Currently there is 1 analyst who rates Sky Solar Holdings a buy, no analysts rate it a sell, and none rate it a hold.

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Ocean Power Technologies ( OPTT) was another company that pushed the Utilities sector lower today. Ocean Power Technologies was down $0.01 (1.9%) to $0.51 on light volume. Throughout the day, 15,317 shares of Ocean Power Technologies exchanged hands as compared to its average daily volume of 136,100 shares. The stock ranged in price between $0.50-$0.52 after having opened the day at $0.52 as compared to the previous trading day's close of $0.52.

Ocean Power Technologies, Inc. develops and commercializes proprietary systems that generate electricity by harnessing the renewable energy of ocean waves primarily in the United States, Europe, Asia, and Australia. Ocean Power Technologies has a market cap of $9.7 million and is part of the utilities industry. Shares are down 18.0% year-to-date as of the close of trading on Wednesday. Currently there are no analysts who rate Ocean Power Technologies a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates Ocean Power Technologies as a sell. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and deteriorating net income.

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Highlights from TheStreet Ratings analysis on OPTT go as follows:

  • Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Electrical Equipment industry and the overall market, OCEAN POWER TECHNOLOGIES INC's return on equity significantly trails that of both the industry average and the S&P 500.
  • Net operating cash flow has significantly decreased to -$2.42 million or 255.75% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.
  • OPTT's stock share price has done very poorly compared to where it was a year ago: Despite any rallies, the net result is that it is down by 55.94%, which is also worse that the performance of the S&P 500 Index. Investors have so far failed to pay much attention to the earnings improvements the company has managed to achieve over the last quarter. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now.
  • The change in net income from the same quarter one year ago has exceeded that of the S&P 500, but is less than that of the Electrical Equipment industry average. The net income has decreased by 2.1% when compared to the same quarter one year ago, dropping from -$3.21 million to -$3.28 million.
  • The gross profit margin for OCEAN POWER TECHNOLOGIES INC is currently very high, coming in at 81.76%. It has increased significantly from the same period last year. Regardless of the strong results of the gross profit margin, the net profit margin of -671.51% is in-line with the industry average.

You can view the full analysis from the report here: Ocean Power Technologies Ratings Report

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