U.S. Utilities Potentially Undervalued Companies

EVN

Market Cap: US$3.3b

Provides energy and environmental services in Austria, Bulgaria, North Macedonia, Croatia, Germany, and Albania.

SIIC Environment Holdings

Market Cap: US$391.5m

An investment holding company, engages in the wastewater treatment, water supply, sludge treatment, solid waste incineration, and other environment related businesses primarily in the People's Republic of China.

ACEA

Market Cap: US$4.1b

Operates as a multi-utility company in Italy.

TTW

Market Cap: US$33.9b

Engages in the production and sale of treated water in Thailand.

Magnora

Market Cap: US$1.5b

Operates as a renewable energy development company in Norway, Sweden, South Africa and the United Kingdom.

Beijing Enterprises Holdings

Market Cap: US$42.5b

Through its subsidiaries, engages in the gas, water, environmental, brewery, and other businesses in Mainland China, Germany, and internationally.

China Oil And Gas Group

Market Cap: US$807.5m

An investment holding company, engages in the natural gas and energy-related businesses in Hong Kong, Mainland China, and Canada.

Huaneng Power International

Market Cap: US$114.3b

Generates and sells electric power to the regional or provincial grid companies in the People’s Republic of China and internationally.

Fortum Oyj

Market Cap: US$13.4b

Engages in the generation and sale of electricity and heat in Finland, Sweden, the Netherlands, Ireland, Denmark, Belgium, the United Kingdom, Switzerland, Spain, France, Germany, Norway, and internationally.

Electricity Generating

Market Cap: US$60.5b

Generates and sells electricity to government sector and industrial users primarily in Thailand, Laos, the Philippines, Indonesia, Australia, South Korea, Taiwan, and the United States.

Guangdong Investment

Market Cap: US$47.2b

An investment holding company, engages in water resources, property investment and development, department store operation, hotel ownership, energy project operation and management, and road and bridge operation businesses.

ENN Energy Holdings

Market Cap: US$70.0b

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

TTW

Market Cap: US$36.3b

Engages in the production and sale of treated water in Thailand.

Kunlun Energy

Market Cap: US$62.2b

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.

TransAlta

Market Cap: US$4.9b

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

Vistra

Market Cap: US$65.9b

Operates as an integrated retail electricity and power generation company in the United States.

Fortis

Market Cap: US$34.6b

Operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries.

Concord New Energy Group

Market Cap: US$3.0b

An investment holding company, engages in the generation of power in the People’s Republic of China and internationally.

Exelon

Market Cap: US$44.8b

A utility services holding company, engages in the energy distribution and transmission businesses.

SSE

Market Cap: US$19.3b

Engages in the generation, transmission, distribution, and supply of electricity.

Avista

Market Cap: US$3.0b

Operates as an electric and natural gas utility company in the United States.

Northwest Natural Holding

Market Cap: US$1.7b

Through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, and industrial customers in the United States.

SSE

Market Cap: US$19.3b

Engages in the generation, transmission, distribution, and supply of electricity.

Huadian Power International

Market Cap: US$65.2b

Engages in the generation and sale of electricity, heat, and coal to power grid companies in the People’s Republic of China.

Rojana Industrial Park

Market Cap: US$13.5b

Engages in the manufacture and sale of electricity from solar cell system in Thailand.

TTW

Market Cap: US$35.7b

Engages in the production and sale of treated water in Thailand.

Azure Power Global

Market Cap: US$16.0m

Operates as a renewable energy developer and independent renewable power producer in India.

China Everbright Water

Market Cap: US$729.5m

Engages in the water environment management business in Mainland China and Germany.

Guangdong Investment

Market Cap: US$47.2b

An investment holding company, engages in water resources, property investment and development, department store operation, hotel ownership, energy project operation and management, and road and bridge operation businesses.

Perusahaan Gas Negara

Market Cap: US$40.4t

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

Centrica

Market Cap: US$7.6b

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

Westbridge Renewable Energy

Market Cap: US$60.7m

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

PG&E

Market Cap: US$33.1b

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.

Pinnacle West Capital

Market Cap: US$10.8b

Through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona.

Ferrellgas Partners

Market Cap: US$72.9m

Distributes and retails propane and related equipment and supplies.

Kunlun Energy

Market Cap: US$62.2b

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.