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Interested in the high growth prospects of the clean energy industry? For a closer look at some interesting clean energy stocks, we ran a screen.

We began by compiling a list of stocks from companies that use or produce clean sources of energy. Then from this universe we screened for those stocks that may also be undervalued, by comparing price trends to changes in EPS estimates over the last month.

Based on the assumption that P/E is equal to a constant k, increases in EPS should be matched by increases in price. When they don't match up, a mispricing may have occurred.

We screened for stocks with faster growth in EPS estimates than price over the last month, which may indicate that these names are being undervalued.

For an interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research.

Tool provided by Kapitall.

Do you think these stocks are undervalued? Use this list as a starting point for your own analysis.

List sorted by increase in EPS estimate over the last month.

1. Ormat Technologies Inc. (NYSE:ORA): Engages in the geothermal and recovered energy power business worldwide. Market cap at $955.85M, most recent closing price at $21.04. The EPS estimate for the company's current year increased from 0.47 to 0.57 over the last 30 days, an increase of 21.28%. This increase came during a time when the stock price changed by 5.54% (from 18.77 to 19.81 over the last 30 days).

2. NRG Energy, Inc. (NYSE:NRG): Operates as a wholesale power generation company. Market cap at $3.66B, most recent closing price at $16.07. The EPS estimate for the company's current year increased from 0.77 to 0.85 over the last 30 days, an increase of 10.39%. This increase came during a time when the stock price changed by -4.07% (from 15.47 to 14.84 over the last 30 days).

3. Companhia de SaneamentoBasico do Estado de Sao Paulo (NYSE:SBS): Provides water and sewage services to residential, commercial, industrial, and governmental customers in the State of Sao Paulo. Market cap at $8.06B, most recent closing price at $70.76. The EPS estimate for the company's current year increased from 7.06 to 7.71 over the last 30 days, an increase of 9.21%. This increase came during a time when the stock price changed by -9.42% (from 77.59 to 70.28 over the last 30 days).

4. Cabot Corp. (NYSE:CBT): Provides specialty chemicals and performance materials worldwide. Market cap at $2.34B, most recent closing price at $36.93. The EPS estimate for the company's current year increased from 3.11 to 3.34 over the last 30 days, an increase of 7.4%. This increase came during a time when the stock price changed by -15.89% (from 42.6 to 35.83 over the last 30 days).

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

Source: 4 Clean Energy Stocks Undervalued By EPS Trends