The Utilities - Diversified industry is composed of companies that provide a variety of utility services, such as electricity, natural gas, water, and wastewater services. These companies are typically regulated by state and local governments, and they are often vertically integrated, meaning they own and operate all aspects of the utility service, from generation to distribution. The industry also includes companies that provide telecommunications services, such as cable and satellite television, as well as companies that provide energy services, such as oil and gas exploration and production.