U.S. Utilities Potentially Undervalued Companies

Algonquin Power & Utilities

Market Cap: US$5.9b

Operates in the power and utility industries.

Consolidated Edison

Market Cap: US$36.1b

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

EDP

Market Cap: US$15.8b

Engages in the generation, transmission, distribution, and supply of electricity in Portugal, Spain, France, Poland, Romania, Italy, Belgium, the United Kingdom, Greece, Colombia, Brazil, North America, and internationally.

Manila Electric

Market Cap: US$597.9b

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

E.ON

Market Cap: US$40.9b

Operates as an energy company in Germany, the United Kingdom, Sweden, the Netherlands, rest of Europe, and internationally.

Southern

Market Cap: US$100.6b

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

APA Group

Market Cap: US$10.9b

Engages in the energy infrastructure business in Australia.

7C Solarparken

Market Cap: US$265.1m

Owns and operates PV farms in Germany and Belgium.

Enel

Market Cap: US$82.9b

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

Otter Tail

Market Cap: US$3.3b

Engages in electric utility, manufacturing, and plastic pipe businesses in the United States.

Sembcorp Industries

Market Cap: US$12.8b

An investment holding company, engages in providing industrial and urban solutions in Singapore, the United Kingdom, China, India, rest of Asia, the Middle East, and internationally.

BKW

Market Cap: US$9.1b

An international 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.

Towngas Smart Energy

Market Cap: US$13.9b

An investment holding company, sells piped gas, renewable energy, and other types of energy in the People’s Republic of China.

Pampa Energía

Market Cap: US$4.8t

Operates as an integrated power company in Argentina.

Enel

Market Cap: US$82.9b

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

Talen Energy

Market Cap: US$13.0b

An independent power producer and infrastructure company, produces and sells electricity, capacity, and ancillary services into wholesale power markets in the United States.

Redeia Corporación

Market Cap: US$9.9b

Engages in the electricity transmission, and system operation and management of the transmission network for the electricity system in Spain and internationally.

CLP Holdings

Market Cap: US$167.9b

An investment holding company, engages in the generation, retail, transmission, and distribution of electricity in Hong Kong, Mainland China, India, Thailand, Taiwan, and Australia.

Sunnova Energy International

Market Cap: US$212.6k

Provides solar energy services in the United States.

VERBUND

Market Cap: US$22.8b

Generates, trades, and sells electricity to energy exchange markets, traders, electric utilities and industrial companies, and households and commercial customers.

Superior Plus

Market Cap: US$1.8b

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

Chubu Electric Power Company

Market Cap: US$1.4t

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

Artesian Resources

Market Cap: US$348.3m

Provides water, wastewater, and other services in Delaware, Maryland, and Pennsylvania.

Electricity Generating

Market Cap: US$58.7b

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.

Ratch Group

Market Cap: US$53.9b

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

Enagás

Market Cap: US$3.6b

Engages in the transmission, storage, and regasification of natural gas.

Kontrol Technologies

Market Cap: US$5.5m

Through its subsidiaries, provides energy compliance and consulting services in Canada and the United States.

Endesa

Market Cap: US$28.3b

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.

WEC Energy Group

Market Cap: US$33.3b

Through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States.

Avista

Market Cap: US$3.1b

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

SSE

Market Cap: US$20.5b

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

Artesian Resources

Market Cap: US$348.3m

Provides water, wastewater, and other services in Delaware, Maryland, and Pennsylvania.

Vistra

Market Cap: US$65.2b

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

Hong Kong and China Gas

Market Cap: US$124.8b

Produces, distributes, and markets gas, water supply and energy services in Hong Kong and Mainland China.

Encavis

Market Cap: US$2.1b

An independent power producer, acquires and operates solar and onshore wind parks in Germany, Italy, Spain, France, Denmark, the Netherlands, the United Kingdom, Finland, Sweden, Ireland, and Lithuania.

Black Hills

Market Cap: US$4.1b

Through its subsidiaries, operates as an electric and natural gas utility company in the United States.