Global Utilities Potentially Undervalued Companies

Southern

Market Cap: US$94.4b

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

Neoenergia

Market Cap: €39.2b

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

PG&E

Market Cap: US$35.1b

Through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States.

Zespól Elektrocieplowni Wroclawskich KOGENERACJA

Market Cap: zł935.7m

Zespól Elektrocieplowni Wroclawskich KOGENERACJA S.A.

Premier Energy

Market Cap: RON 3.6b

Operates as an integrated energy and power infrastructure company in Romania, Moldova, Hungary, and Serbia.

Eversource Energy

Market Cap: €24.8b

A public utility holding company, engages in the energy delivery business.

ISA Energía Brasil

Market Cap: R$19.5b

Engages in the electric power transmission business in Brazil.

TransAlta

Market Cap: CA$5.1b

Engages in the development, production, and sale of electric energy.

China Resources Power Holdings

Market Cap: €92.2b

An investment holding company, invests in, develops, operates, and manages power plants and coal mines in the People’s Republic of China.

Veolia Environnement

Market Cap: €21.5b

Designs and provides water, waste, and energy management solutions.

PG&E

Market Cap: €35.1b

Through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States.

Origin Energy

Market Cap: €19.5b

An integrated energy company, engages in the exploration and production of natural gas, electricity generation, wholesale and retail sale of electricity and gas, and sale of liquefied natural gas in Australia and internationally.

Acciona

Market Cap: €10.0b

Engages in the energy, infrastructure, and other businesses in Spain and internationally.

Portland General Electric

Market Cap: US$5.3b

An integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon.

Tenaga Nasional Berhad

Market Cap: US$79.6b

Engages in the generation, transmission, distribution, and sale of electricity in Malaysia, the United Kingdom, Kuwait, the Republic of Ireland, Australia, and internationally.

Drax Group

Market Cap: US$2.8b

Engages in renewable power generation in the United Kingdom.

Edison International

Market Cap: R$23.1b

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

Polaris Renewable Energy

Market Cap: US$248.1m

Engages in the acquisition, exploration, development, and operation of renewable energy projects in Latin America and the Caribbean.

AGL Energy

Market Cap: AU$6.2b

Supplies energy and other essential services in Australia.

Reliance Infrastructure

Market Cap: ₹70.8b

An infrastructure company, generates, transmits, and distributes electrical power to residential, industrial, commercial, and other consumers in India.

Ferrellgas Partners

Market Cap: US$89.3m

Ferrellgas Partners, L.P. retail distribution of propane, related equipment and supplies.

Fideicomiso Irrevocable Numero Cib/2919 (Cfe Fibra E)

Market Cap: Mex$26.8b

Fideicomiso Irrevocable Numero Cib/2919 (Cfe Fibra E) was founded in 2018 and is based in Mexico.

Acciona

Market Cap: US$10.0b

Engages in the energy, infrastructure, and other businesses in Spain and internationally.

China Resources Power Holdings

Market Cap: US$104.6b

An investment holding company, invests in, develops, operates, and manages power plants and coal mines in the People’s Republic of China.

Veolia Environnement

Market Cap: Mex$21.1b

Designs and provides water, waste, and energy management solutions.

Tianjin Development Holdings

Market Cap: US$2.8b

Through its subsidiaries, supplies water, heat, thermal power, and electricity to industrial, commercial, and residential customers in the People’s Republic of China.

China Gas Holdings

Market Cap: US$43.6b

An investment holding company, operates as an energy supplier and service provider in the People’s Republic of China.

Ratch Group

Market Cap: ฿56.5b

An energy and infrastructure company, engages in the generation and sale of electricity and steam in Thailand, Australia, Singapore, Indonesia, and internationally.

Drax Group

Market Cap: Mex$2.5b

Engages in renewable power generation in the United Kingdom.

Tokyo GasLtd

Market Cap: US$2.1t

Engages in the production, supply, and sale of city gas and LNG in Japan.

Compania de Electricidad de Tulua E.S.P

Market Cap: Col$166.0b

Compania de Electricidad de Tulua S.A. E.S.P.

Energía de Casablanca

Market Cap: CL$3.0b

Engages in the distribution of electricity in Chile.

Gas Natural del Oriente ESP

Market Cap: Col$163.1b

Engages in the commercialization, transport, and distribution of fuel gas in Colombia.

Neoenergia

Market Cap: US$39.2b

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

Sembcorp Salalah Power & Water Company SAOG

Market Cap: ر.ع190.9m

Develops, owns, and operates an electricity generation and seawater desalination plant in the Salalah region.

GuiZhou QianYuan Power

Market Cap: CN¥7.9b

Engages in the development, operation, and management of hydropower and photovoltaic power stations in China.