Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

One company value investors might notice is Clearway Energy (CWENA). CWENA is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock holds a P/E ratio of 16.70, while its industry has an average P/E of 21.85. CWENA's Forward P/E has been as high as 38.45 and as low as 16.04, with a median of 17.21, all within the past year.

Finally, investors will want to recognize that CWENA has a P/CF ratio of 3.08. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 8.54. Over the past year, CWENA's P/CF has been as high as 3.89 and as low as 2.85, with a median of 3.27.

If you're looking for another solid Alternative Energy - Other value stock, take a look at NextEra Energy Partners (NEP). NEP is a # 2 (Buy) stock with a Value score of A.

NextEra Energy Partners is currently trading with a Forward P/E ratio of 10.38 while its PEG ratio sits at 2.87. Both of the company's metrics compare favorably to its industry's average P/E of 21.85 and average PEG ratio of 1.47.

NEP's price-to-earnings ratio has been as high as 52.83 and as low as 9.08, with a median of 19.31, while its PEG ratio has been as high as 3.59 and as low as 2.48, with a median of 2.88, all within the past year.

Additionally, NextEra Energy Partners has a P/B ratio of 0.11 while its industry's price-to-book ratio sits at 3.99. For NEP, this valuation metric has been as high as 0.23, as low as 0.11, with a median of 0.18 over the past year.

These figures are just a handful of the metrics value investors tend to look at, but they help show that Clearway Energy and NextEra Energy Partners are likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, CWENA and NEP feels like a great value stock at the moment.

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