Rational Investing

Electric Utilities

	Total Market Capitalization of All Firms	957315 mm
	Average Market Capitalization	24547 mm
	Average Market to Model Ratio Weighted by Log of Market Cap	1.82
	Standard Deviation of MM Ratio	0
	Average Beta	0.67
	Average EV To Revenue	3.77
	Average Price To Free Cash Flow	160.24

Ticker	Company Name	Market To Model	Market Cap ($ mm)	EV to Revenue	Price To FCF	% Growth	Beta	As Of
AQN.TO	Algonquin Power & Utilities Co	9.5	7,177	6.6	77.5	-2	0.66	Jun 19
AES	The Aes Corp	5.3	12,485	3.2	35.4	-6	1.07	Sep 19
EIX	Edison International	5.0	23,243	3.3	-46.1	-4	0.22	Sep 19
EMA.TO	Emera Inc	2.6	9,853	4.2	-38.6	3	0.52	Jun 19
PPL	Ppl Corp.	2.1	24,770	6.0	55.5	1	0.66	Jun 19
EGIE3.SA	Engie Brasil Energia SA	2.0	9,290	1.9	48.4	12	0.66	Jun 19
ES	Eversource Energy	2.0	26,083	4.6	-142.7	7	0.38	Jun 19
ORA	Ormat Technologies Inc.	2.0	3,908	6.7	116.6	8	1.03	Jun 19
0002.HK	CLP Holdings Ltd	1.9	25,737	0.9	15.5	2	0.34	Jun 19
AEP	American Electric Power Co Inc	1.9	45,623	4.2	3210.9	4	0.18	Sep 19
CMS	Cms Energy Corp	1.9	17,547	4.4	-127.5	-1	0.16	Sep 19
EVRG	Evergy Inc	1.8	15,508	4.6	-45.9	28	0.50	Jun 19
NPI.TO	Northland Power Inc	1.7	3,802	6.8	-228.5	5	0.71	Jun 19
ELE.MC	Endesa SA	1.6	28,392	1.7	14.5	4	0.66	Jun 19
ETR	Entergy Corp.	1.6	22,492	3.8	-39.4	4	0.56	Jun 19
FE	Firstenergy Corp	1.6	25,727	4.3	69.9	1	0.36	Sep 19
DTE	Dte Energy Co.	1.5	22,967	2.7	43.4	-2	0.38	Sep 19
FTS.TO	Fortis Inc	1.5	17,139	4.8	-52.1	7	0.21	Jun 19
IBE.MC	Iberdrola SA	1.5	62,651	2.7	18.9	6	0.60	Sep 19
NRG	Nrg Energy Inc.	1.5	10,307	1.9	15.4	-3	0.82	Jun 19
TA.TO	TransAlta Corporation	1.5	1,938	2.2	26.5	11	1.84	Jun 19
EXC	Exelon Corp.	1.4	43,557	2.5	28.2	-4	0.50	Jun 19
NEE	NextEra Energy, Inc.	1.4	110,063	7.3	-602.0	21	0.30	Sep 19
SO	Southern Company Inc	1.4	65,289	5.2	33.4	-6	0.32	Jun 19
TAC	Transalta Corp.	1.4	1,941	2.6	11.0	8	1.77	Jun 19
ENEL.MI	Enel SpA	1.2	75,802	1.6	16.1	9	0.64	Jun 19
D	Dominion Resources Inc.	1.1	65,144	6.1	-32.8	23	0.42	Jun 19
DRX.L	Drax Group	1.1	1,458	0.5	-143.9	10	1.33	Jun 19
EOAN.DE	E.on SE	1.1	22,443	1.0	7.4	20	0.72	Jun 19
FORTUM.HE	Fortum Oyj	1.1	21,052	4.5	162.2	15	0.89	Sep 19
GXP	Great Plains Energy Inc.	1.1	6,895	4.1	15.5	4	0.66	Mar 18
HYDR.ME	RUSHYDRO	1.1	3,543	0.7	-15.0	2	0.73	Jun 19
ATP.TO	Atlantic Power Corp	1.0	261	3.3	12.7	4	1.57	Dec 18
CNP	Centerpoint Energy Inc	0.9	12,449	1.9	-2.7	19	0.66	Sep 19
DUK	Duke Energy Corp	0.9	65,008	4.8	72.4	6	0.17	Sep 19
TRN.MI	Terna - Rete Elettrica Naziona	0.9	12,511	9.2	17.9	6	0.66	Jun 19
REE.MC	Red Electrica Corporacion SA	0.8	10,476	8.0	10.6	3	0.66	Jun 19
9501	The Tokyo Electric Power Compa	0.7	7,223	1.0	18.8	3	0.85	Sep 19
CPL	Cpfl Energia S.a.	0.7	15,564	1.4	11.7	-8	0.63	Jun 19