Do you consider yourself a value investor? For ideas on how to start your own value search, we ran a screen.

We began by screening the utilities sector for stocks with strong upward momentum, trading within 5% of their 52-week high.

We then screened for those that also appear undervalued relative to the Graham Number. The Graham Number is a measure of maximum fair value created by the "godfather of value investing" Benjamin Graham.

It is based off of a stock's EPS and book value per share (BVPS).

Graham Number = SQRT(22.5 x TTM EPS x MRQ BVPS)

The equation assumes that P/E should not be higher than 15 and P/BV should not be higher than 1.5. Stocks trading well below their Graham Number may be 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 should be trading higher? Use this list as a starting point for your own analysis.

List sorted by potential upside implied by the Graham Number.

** 1. American Electric Power Co., Inc. (NYSE:AEP):** Engages in the generation, transmission, and distribution of electric power to retail customers. Market cap at $18.85B, most recent closing price at $38.92. The stock is currently trading 3.66% below its 52-week high. Diluted TTM earnings per share at 4.09, and a MRQ book value per share value at 30.69, implies a Graham Number fair value = sqrt(22.5*4.09*30.69) = $53.14. Based on the stock's price at $38.39, this implies a potential upside of 38.43% from current levels.

** 2. CenterPoint Energy, Inc. (NYSE:CNP):** Operates as a public utility holding company in the United States. Market cap at $8.52B, most recent closing price at $19.93. The stock is currently trading 3.21% below its 52-week high. Diluted TTM earnings per share at 3.16, and a MRQ book value per share value at 10.03, implies a Graham Number fair value = sqrt(22.5*3.16*10.03) = $26.70. Based on the stock's price at $19.97, this implies a potential upside of 33.72% from current levels.

** 3. IdaCorp, Inc. (NYSE:IDA):** Engages in the generation, transmission, distribution, sale, and purchase of electric energy in the United States. Market cap at $1.98B, most recent closing price at $39.59. The stock is currently trading 4.34% below its 52-week high. Diluted TTM earnings per share at 3.26, and a MRQ book value per share value at 33.35, implies a Graham Number fair value = sqrt(22.5*3.26*33.35) = $49.46. Based on the stock's price at $39., this implies a potential upside of 26.82% from current levels.

** 4. Portland General Electric Company (NYSE:POR):** Operates as an integrated electric utility in Oregon. Market cap at $1.93B, most recent closing price at $25.51. The stock is currently trading 0.15% below its 52-week high. Diluted TTM earnings per share at 1.68, and a MRQ book value per share value at 22.41, implies a Graham Number fair value = sqrt(22.5*1.68*22.41) = $29.10. Based on the stock's price at $24.98, this implies a potential upside of 16.51% from current levels.

** 5. Pepco Holdings, Inc. (NYSE:POM):** Engages in the transmission, distribution, and supply of electricity. Market cap at $4.41B, most recent closing price at $19.32. The stock is currently trading 4.15% below its 52-week high. Diluted TTM earnings per share at 1.15, and a MRQ book value per share value at 19.13, implies a Graham Number fair value = sqrt(22.5*1.15*19.13) = $22.25. Based on the stock's price at $19.24, this implies a potential upside of 15.64% from current levels.

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

**Disclosure: **I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.