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Risk is unavoidable in the stock market, however there are ways to find stocks offering less volatility. For ideas, we ran a screen you may be interested in.

We screened for stocks with an average intra-day trading volatility below 2% over the last month (indicating these stocks have not moved on average more than 2% in price during trading days over the last month). We then screened these stocks for those that appear undervalued relative to EPS trends.

The theoretical assumption that P/E is equal to a constant K implies that growth in EPS estimates should be matched by proportionate growth in price. When they don't match up, a mispricing may have occurred. We screened for those exhibiting this mismatch between changes in EPS estimate and price.

Of course there's no reason to expect P/E to stay at one constant - this is only a simplifying assumption for the sake of the screen.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the top six stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.‬

We also created a price-weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month. To access a complete analysis of this list's recent performance, click here.

Do you think these stocks carry less risk? Use this list as a starting point for your own analysis.

List sorted alphabetically.

1. Apple Inc. (NASDAQ:AAPL): Designs, manufactures, and markets personal computers, mobile communication and media devices, and portable digital music players, as well as sells related software, services, peripherals, networking solutions, and third-party digital content and applications worldwide. Average intra-day volatility over the last month at 1.19%. The EPS estimate for the company's current year increased from 34.75 to 42.14 over the last 30 days, an increase of 21.27%. This increase came during a time when the stock price changed by 10.61% (from 421.73 to 466.49 over the last 30 days).

2. Union Pacific Corporation (NYSE:UNP): Provides rail transportation services in North America. Average intra-day volatility over the last month at 1.97%. The EPS estimate for the company's current year increased from 7.82 to 8.1 over the last 30 days, an increase of 3.58%. This increase came during a time when the stock price changed by 3.55% (from 109.49 to 113.38 over the last 30 days).

3. Exelon Corp. (NYSE:EXC): Operates as a utility services holding company in the United States. Average intra-day volatility over the last month at 1.50%. The EPS estimate for the company's current year increased from 3.03 to 3.04 over the last 30 days, an increase of 0.33%. This increase came during a time when the stock price changed by -4.06% (from 41.4 to 39.72 over the last 30 days).

4. FirstEnergy Corp. (NYSE:FE): Operates as a diversified energy company. Average intra-day volatility over the last month at 1.67%. The EPS estimate for the company's current year increased from 3.38 to 3.47 over the last 30 days, an increase of 2.66%. This increase came during a time when the stock price changed by 1.98% (from 42.4 to 43.24 over the last 30 days).

5. Consolidated Edison Inc. (NYSE:ED): Provides electric, gas, and steam utility services in the United States. Average intra-day volatility over the last month at 1.13%. The EPS estimate for the company's current year increased from 3.71 to 3.74 over the last 30 days, an increase of 0.81%. This increase came during a time when the stock price changed by -0.57% (from 59.27 to 58.93 over the last 30 days).

6. PPL Corporation (NYSE:PPL): Generates and sells electricity; and delivers natural gas to approximately 5.3 million utility customers primarily in the northeastern and northwestern US. Average intra-day volatility over the last month at 1.37%. The EPS estimate for the company's current year increased from 2.63 to 2.64 over the last 30 days, an increase of 0.38%. This increase came during a time when the stock price changed by -4.62% (from 28.78 to 27.45 over the last 30 days).

7. Public Service Enterprise Group Inc. (NYSE:PEG): Operates in the energy industry primarily in the northeastern and mid Atlantic United States. Average intra-day volatility over the last month at 1.61%. The EPS estimate for the company's current year increased from 2.73 to 2.74 over the last 30 days, an increase of 0.37%. This increase came during a time when the stock price changed by -3.98% (from 31.64 to 30.38 over the last 30 days).

8. ONEOK Inc. (NYSE:OKE): Operates as a natural gas distributor primarily in the United States. Average intra-day volatility over the last month at 1.58%. The EPS estimate for the company's current year increased from 3.25 to 3.33 over the last 30 days, an increase of 2.46%. This increase came during a time when the stock price changed by -5.71% (from 86.76 to 81.81 over the last 30 days).

*EPS data sourced from Yahoo! Finance, all other data sourced from Finviz.

Source: 8 Low Volatility Stocks Undervalued By EPS Trends