This year’s Fortnightly 40 survey showed that while F40 companies have grown their average return on equity (ROE) in the past three years, those returns have grown slowly compared to...
The 40 Best Energy Companies
strategy and significant unregulated holdings. The other two are Dayton Power & Light (#1), a small vertically integrated utility with 500,000 customers and 10 power plants; and Energen (#3), a small gas utility with major upstream E&P holdings.
Companies like these consistently deliver value for shareholders because their leaders have established clear strategic direction, aligned the company toward it, and maintained long-term progress through all manner of setbacks and challenges. Most companies won’t be able to follow their examples in terms of resource mix or asset plan, but they can learn from their success in pursuit of a winning strategic vision.