U.S. Utilities Potentially Undervalued Companies

Engie Brasil Energia

Market Cap: US$37.4b

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

China Longyuan Power Group

Market Cap: US$112.3b

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

Polaris Renewable Energy

Market Cap: US$254.8m

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

AES

Market Cap: US$10.4b

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

China Water Affairs Group

Market Cap: US$8.8b

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

UGI

Market Cap: US$8.6b

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$24.0b

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

Capital Power

Market Cap: US$9.3b

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

ENN Energy Holdings

Market Cap: US$74.9b

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

Enel

Market Cap: US$93.4b

Operates as an integrated operator in electricity and gas industries worldwide.

Enel

Market Cap: US$93.4b

Operates as an integrated operator in electricity and gas industries worldwide.

ATCO

Market Cap: US$6.7b

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

Endesa

Market Cap: US$32.4b

Engages in the generation, distribution, and sale of electricity in Spain, Portugal, France, Germany, the United Kingdom, Switzerland, Luxembourg, the Netherlands, Singapore, Italy, Morocco, and internationally.

Korea Electric Power

Market Cap: US$37.4t

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

Engie

Market Cap: US$60.9b

Operates as an energy company, engages in the renewables and decentralized, low-carbon energy networks, and energy services businesses in France, Europe, North America, Asia, the Middle East, Oceania, South America, Africa, and internationally.

National Fuel Gas

Market Cap: US$8.0b

Operates as a diversified energy company.

Light

Market Cap: US$1.9b

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

Engie

Market Cap: US$60.9b

Operates as an energy company, engages in the renewables and decentralized, low-carbon energy networks, and energy services businesses in France, Europe, North America, Asia, the Middle East, Oceania, South America, Africa, and internationally.

Westbridge Renewable Energy

Market Cap: US$50.2m

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

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.

Portland General Electric

Market Cap: US$5.7b

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

Clearway Energy

Market Cap: US$7.2b

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

Ferrellgas Partners

Market Cap: US$93.5m

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

Origin Energy

Market Cap: US$20.2b

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: US$9.9b

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

Datang International Power Generation

Market Cap: US$67.0b

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

Kyushu Electric Power Company

Market Cap: US$814.4b

Engages in the power generation, transmission, distribution, and retail in Japan 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.

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.

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.

Eversource Energy

Market Cap: US$25.9b

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

Tokyo GasLtd

Market Cap: US$2.3t

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

Southern

Market Cap: US$98.3b

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

Neoenergia

Market Cap: US$39.3b

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

Kyushu Electric Power Company

Market Cap: US$814.4b

Engages in the power generation, transmission, distribution, and retail in Japan and internationally.

Caribbean Utilities Company

Market Cap: US$569.4m

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