U.S. Utilities Potentially Undervalued Companies

Engie Brasil Energia

Market Cap: US$35.9b

Engages in the generation, commercialization, trading, and transmission of electricity in Brazil.

Polaris Renewable Energy

Market Cap: US$261.6m

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

AES

Market Cap: US$10.6b

Operates as a power generation and utility company in the United States and internationally.

China Longyuan Power Group

Market Cap: US$108.7b

Generates and sells wind, coal, and photovoltaic (PV) power in the Chinese Mainland, Canada, South Africa, and Ukraine.

Capital Power

Market Cap: US$9.2b

Develops, acquires, owns, and operates renewable and thermal power generation facilities in Canada and the United States.

UGI

Market Cap: US$8.0b

Engages in the distribution, storage, transportation, and marketing of energy products and related services in the United States and internationally.

Edison International

Market Cap: US$23.3b

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

ENN Energy Holdings

Market Cap: US$76.4b

An investment holding company, engages in the investment, construction, operation, and management of gas pipeline infrastructure in the People’s Republic of China.

Clearway Energy

Market Cap: US$6.7b

Operates in the clean energy generation assets business in the United States.

Companhia Energética de Minas Gerais - CEMIG

Market Cap: US$34.9b

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

ATCO

Market Cap: US$6.3b

Engages in the energy, logistics and transportation, shelter, and real estate services in Canada, Australia, and internationally.

Companhia Energética de Minas Gerais - CEMIG

Market Cap: US$34.9b

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

Northland Power

Market Cap: US$4.8b

Operates as a power producer in Canada, the Netherlands, Germany, Colombia, Spain, the United States, and internationally.

Light

Market Cap: US$1.8b

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

National Fuel Gas

Market Cap: US$7.6b

Operates as a diversified energy company.

Westbridge Renewable Energy

Market Cap: US$55.1m

Engages in the acquisition and development of solar photovoltaic (PV) projects in Canada, the United States, the United Kingdom, and Italy.

Korea Electric Power

Market Cap: US$31.8t

An integrated electric utility company, engages in the generation, transmission, and distribution of electricity in South Korea and internationally.

CGN Power

Market Cap: US$208.2b

Operates and manages nuclear power stations, sells electricity generated by these stations, and provides related technical services in the People’s Republic of China.

Origin Energy

Market Cap: US$19.3b

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.

Portland General Electric

Market Cap: US$5.5b

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

Acciona

Market Cap: US$10.7b

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

Oceanic Wind Energy

Market Cap: US$5.2m

Operates as a renewable energy company in Canada.

Tenaga Nasional Berhad

Market Cap: US$79.9b

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

Datang International Power Generation

Market Cap: US$64.6b

Engages in power generation business in the People’s Republic of China.

Clearway Energy

Market Cap: US$6.7b

Operates in the clean energy generation assets business in the United States.

Ferrellgas Partners

Market Cap: US$91.1m

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

Essential Utilities

Market Cap: US$10.9b

Through its subsidiaries, operates regulated utilities that provide water, wastewater, and natural gas services in the United States.

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.

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.

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 Water Affairs Group

Market Cap: US$8.6b

An investment holding company, engages in the water supply, environmental protection, and property businesses in the People’s Republic of China.

Neoenergia

Market Cap: US$38.7b

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

Caribbean Utilities Company

Market Cap: US$566.5m

Engages in the generation, transmission, and distribution of electricity in Grand Cayman.

H2O America

Market Cap: US$1.8b

Through its subsidiaries, provides water utility and other related services in the United States.

Consolidated Edison

Market Cap: US$35.8b

Through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States.

Eversource Energy

Market Cap: US$25.3b

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