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 tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

One company to watch right now is ENGIE - Sponsored ADR (ENGIY). ENGIY is currently holding a Zacks Rank of #1 (Strong Buy) and a Value grade of A. The stock is trading with P/E ratio of 10.59 right now. For comparison, its industry sports an average P/E of 14.25. Over the past year, ENGIY's Forward P/E has been as high as 11.37 and as low as 6.67, with a median of 8.84.

Another notable valuation metric for ENGIY is its P/B ratio of 1.16. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. ENGIY's current P/B looks attractive when compared to its industry's average P/B of 2.24. ENGIY's P/B has been as high as 1.16 and as low as 0.86, with a median of 0.97, over the past year.

If you're looking for another solid Utility - Electric Power value stock, take a look at Pampa Energia (PAM). PAM is a # 2 (Buy) stock with a Value score of A.

Pampa Energia is currently trading with a Forward P/E ratio of 6.93 while its PEG ratio sits at 0.41. Both of the company's metrics compare favorably to its industry's average P/E of 14.25 and average PEG ratio of 1.81.

PAM's price-to-earnings ratio has been as high as 12.13 and as low as 5.52, with a median of 7.44, while its PEG ratio has been as high as 0.49 and as low as 0.40, with a median of 0.43, all within the past year.

Pampa Energia sports a P/B ratio of 1.30 as well; this compares to its industry's price-to-book ratio of 2.24. In the past 52 weeks, PAM's P/B has been as high as 1.57, as low as 0.76, with a median of 1.07.

These are just a handful of the figures considered in ENGIE - Sponsored ADR and Pampa Energia's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that ENGIY and PAM is an impressive value stock right now.

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This article originally published on Zacks Investment Research (zacks.com).

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