U.S. Utilities Potentially Undervalued Companies

BKW

Market Cap: US$8.3b

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.

Boralex

Market Cap: US$3.2b

Engages in the developing, building, and operating power generating and storage facilities in Canada, France, and the United States.

Italgas

Market Cap: US$5.7b

Engages in the distribution of natural gas in Italy, Greece, and Other European Union countries.

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.

Fortis

Market Cap: US$33.8b

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

Avista

Market Cap: US$3.3b

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

Artesian Resources

Market Cap: US$356.8m

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

Northwest Natural Holding

Market Cap: US$1.8b

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

Enagás

Market Cap: US$3.5b

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

Endesa

Market Cap: US$27.1b

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.

TransAlta

Market Cap: US$3.6b

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

Vistra

Market Cap: US$42.1b

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

NextEra Energy

Market Cap: US$136.6b

Through its subsidiaries, generates, transmits, distributes, and sells electric power to retail and wholesale customers in North America.

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$4.4b

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

Ørsted

Market Cap: US$108.5b

Owns, develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage and renewable hydrogen facilities, and bioenergy plants.

Brookfield Renewable

Market Cap: US$9.4b

Owns and operates a portfolio of renewable power and sustainable solution assets.

California Water Service Group

Market Cap: US$3.0b

Through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, Hawaii, and Texas.

ReNew Energy Global

Market Cap: US$2.4b

Generates power through non-conventional and renewable energy sources in India.

National Fuel Gas

Market Cap: US$7.1b

Operates as a diversified energy company.

RWE

Market Cap: US$24.9b

Generates and supplies electricity from renewable and conventional sources in Germany, the United Kingdom, rest of Europe, North America, and internationally.

Naturgy Energy Group

Market Cap: US$24.9b

Engages in the supply, liquefaction, regasification, transport, storage, distribution, and sale of gas.

Centrica

Market Cap: US$7.9b

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

Pampa Energía

Market Cap: US$5.0t

Operates as an integrated power company in Argentina.