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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.

Source: 5 Utilities Trading Near Highs Undervalued By The Graham Number