Entering International Waters -- For Investment (PHO, SZE)

Roger Nusbaum submits: A reader commented on all of the attention water has received on CNBC in the last couple of days. The reader says he has exposure to the water ETF (PowerShares Water Resource Portfolio (PHO) -- client and personal holding), but wonders if there is way to get more international exposure in the water theme. He also asks about any foreign utilities.

I can only talk about one company with any detail which is Suez (NYSE: SZE). I wrote about this company a while back for Motley Fool. It is a French company with a lot of water exposure. I own it for a couple of clients but based on the last year should have owned it for everyone.

I view it as a little more aggressive which is why so few of my clients own it. Lately the news on the stock has been about the company possibly merging with Gaz de France in an effort to fend off another bid from Italian company Enel.

I am not selling SZE here but I am not a buyer for anyone new because of the merger triangle.

There are other foreign utilities, and since I have not written much about them it might be worthwhile to explore them a little more.

SZE 1-yr chart: