U.S. Utilities Potentially Undervalued Companies

Ørsted

Market Cap: US$178.9b

Owns, develops, constructs, and operates offshore and onshore wind farms, solar farms, and energy storage and combined heat and power (CHP) plants.

Superior Plus

Market Cap: US$1.6b

Distributes propane, compressed natural gas, renewable energy, and related products and services in the United States and Canada.

Central Puerto

Market Cap: US$3.1t

Engages in the electric power generation activities in Argentina.

Engie Brasil Energia

Market Cap: US$39.1b

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

Tenaga Nasional Berhad

Market Cap: US$83.4b

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

Origin Energy

Market Cap: US$20.3b

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.

AES

Market Cap: US$10.5b

Operates as a power generation and utility company.

Manila Electric

Market Cap: US$539.9b

Manila Electric Company holds a congressional franchise to construct, operate, and maintain an electric distribution system in the Philippines.

Hallador Energy

Market Cap: US$725.1m

Through its subsidiaries, operates as an independent power producer and fuel company in the United States.

Edison International

Market Cap: US$27.5b

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

ENN Energy Holdings

Market Cap: US$53.1b

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

Centrica

Market Cap: US$7.0b

Operates as an integrated energy company in the United Kingdom, Ireland, Scandinavia, North America, and internationally.

Solaria Energía y Medio Ambiente

Market Cap: US$2.2b

Generates solar photovoltaic energy.

BKW

Market Cap: US$6.6b

An energy and infrastructure company, plans, builds, and operates infrastructure to produce and supply energy to businesses, households, and the public sector in Switzerland, Germany, Italy, France, and internationally.

Companhia Energética de Minas Gerais - CEMIG

Market Cap: US$33.8b

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

Pampa Energía

Market Cap: US$6.8t

Operates as an integrated power company in Argentina.

Companhia Energética de Minas Gerais - CEMIG

Market Cap: US$33.8b

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

Companhia Paranaense de Energia - COPEL

Market Cap: US$42.0b

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

AXIA Energia

Market Cap: US$148.5b

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

ENN Energy Holdings

Market Cap: US$53.1b

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

Northland Power

Market Cap: US$5.5b

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

Interconexión Eléctrica E.S.P

Market Cap: US$31.7t

Engages in the electric power, roads, and ICT and telecommunications business activities.

Perusahaan Gas Negara (Persero)

Market Cap: US$36.8t

Engages in the transmission and distribution of natural gas in Indonesia.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP

Market Cap: US$83.3b

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

Centrica

Market Cap: US$7.0b

Operates as an integrated energy company in the United Kingdom, Ireland, Scandinavia, North America, and internationally.

Korea Electric Power

Market Cap: US$20.2t

Engages in the generation, transmission, and distribution of electricity in South Korea and internationally.

AXIA Energia

Market Cap: US$148.5b

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

Ørsted

Market Cap: US$178.9b

Owns, develops, constructs, and operates offshore and onshore wind farms, solar farms, and energy storage and combined heat and power (CHP) plants.

AGL Energy

Market Cap: US$5.9b

Engages in the operation of private electricity generation portfolio in Australia.

Kunlun Energy

Market Cap: US$60.5b

An investment holding company, engages in the exploration, development, production, and sale of crude oil and natural gas in the Republic of Kazakhstan, the Sultanate of Oman, and the Kingdom of Thailand.

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.

Datang International Power Generation

Market Cap: US$99.9b

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

China Resources Gas Group

Market Cap: US$36.9b

An investment holding company, engages in the sale of liquefied gas and connection of gas pipelines.

Spruce Power Holding

Market Cap: US$37.5m

Owns and operates distributed solar energy assets in the United States.

Ferrellgas Partners

Market Cap: US$257.2m

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

Compañía de Transporte de Energía Eléctrica en Alta Tensión Transener

Market Cap: US$1.5t

Compañía de Transporte de Energía Eléctrica en Alta Tensión Transener S.A.