Brazilian Utilities Potentially Undervalued Companies

Companhia de Saneamento Básico do Estado de São Paulo - SABESP

Market Cap: R$86.6b

Provides basic and environmental sanitation services in the São Paulo State, Brazil.

Transmissora Aliança de Energia Elétrica

Market Cap: R$13.4b

Engages in the construction, operation, and maintenance of electric power transmission lines in Brazil.

Transmissora Aliança de Energia Elétrica

Market Cap: R$13.4b

Engages in the construction, operation, and maintenance of electric power transmission lines in Brazil.

ISA Energía Brasil

Market Cap: R$18.8b

Engages in the electric power transmission business in Brazil.

Auren Energia

Market Cap: R$11.2b

Engages in the investment platform for the management, operation, acquisition, development and construction of energy generation, transmission and trading assets in Brazil.

Neoenergia

Market Cap: R$41.0b

Generates, transmits, distributes, trades in, and commercializes electric energy in Brazil.

AXIA Energia

Market Cap: R$153.6b

Through its subsidiaries, engages in the generation, transmission, distribution, and commercialization of electricity in Brazil.

Companhia Energética de Minas Gerais - CEMIG

Market Cap: R$35.5b

Through its subsidiaries, engages in the generation, transmission, distribution, and sale of energy in Brazil.

CPFL Energia

Market Cap: R$51.0b

Through its subsidiaries, operates as an energy company in Brazil.

Edison International

Market Cap: R$28.8b

Through its subsidiaries, engages in the generation and distribution of electric power.

Companhia de Eletricidade do Estado da Bahia - COELBA

Market Cap: R$12.1b

Engages in the distribution of electricity.

Companhia Distribuidora de Gás do Rio de Janeiro - CEG

Market Cap: R$7.4b

Engages in the distribution of natural gas in Brazil.

Companhia de Gás de São Paulo - COMGÁS

Market Cap: R$16.5b

Operates as a piped natural gas distributor in Brazil.

AES

Market Cap: R$10.5b

Operates as a power generation and utility company.

Energisa

Market Cap: R$18.0b

Through its subsidiaries, engages in the generation, transmission, and distribution of electricity in Brazil.

Centrais Elétricas de Santa Catarina

Market Cap: R$5.5b

Through its subsidiaries, engages in the generation, transmission, and sale of electrical energy in Brazil.

Renova Energia

Market Cap: R$273.0m

Operates as a renewable energy generation company in Brazil.

Companhia Energética do Ceará - COELCE

Market Cap: R$2.6b

Engages in the distribution of electricity in Brazil.

Companhia Paranaense de Energia - COPEL

Market Cap: R$43.5b

Engages in the research, study, planning, construction, production, transformation, transportation, distribution, and commercialization of electricity in Brazil.

Engie Brasil Energia

Market Cap: R$40.9b

Engages in the generation, commercialization, trading, and transmission activities in Brazil.

Light

Market Cap: R$1.2b

Engages in the generation, transmission, distribution, and sale of electric power in Brazil.

Compass Gas e Energia

Market Cap: R$15.9b

Engages in distribution and promotion of natural gas in Brazil.

Energisa

Market Cap: R$18.0b

Through its subsidiaries, engages in the generation, transmission, and distribution of electricity in Brazil.

Companhia de Saneamento de Minas Gerais

Market Cap: R$21.0b

Plans, executes, expands, remodels, and explores public services, basic sanitation, water supply, sewage, sanitary, and solid waste in Brazil and internationally.

Eneva

Market Cap: R$51.1b

An integrated energy company, engages in the exploration, production, and commercialization of natural gas and liquids in Brazil.

Alupar Investimento

Market Cap: R$10.8b

Engages in the transmission, generation, and commercialization of energy in Brazil, Colombia, Peru, and Chile.

Equatorial

Market Cap: R$46.6b

Through its subsidiaries, engages in the generation, distribution, and commercialization of energy in Brazil.