Naturgy

Naturgy is a plain utilities and energy company, the sort people meet through gas and electricity rather than through a flashy consumer brand. By our assessment, its strength is the basic, necessary business of keeping energy supply moving, and that is exactly why it sits in the background so much of the time. The downside is also built in: energy utilities are regulated, infrastructure-heavy and not meant to be exciting, so the experience is practical rather than charming. Naturgy belongs with the big utility names in Europe, and the case for it is stability, not sparkle.