Pimco's Bill Gross said on Thursday that utilities stocks provide opportunity for investors in a low growth environment, due to their high dividend yield and steady earnings potential.

Gross, co-chief investment officer of Pacific Investment Management Co, said in monthly commentary on the firm's Web site that the coming years are likely to be low return ones, which will hurt a number of sectors, including banks, auto companies and other entities.

He notes that utility shares yield more than their less risky debt and offer dividend yields of about 5 to 6 percent, making them attractive in coming years.

(Reporting by David Gaffen; Editing by Chizu Nomiyama)