With the coldest winter weather still ahead, companies whose efforts bring warmth and comfort could be good investment opportunities. This article will discuss three such companies: NextEra Energy, Inc. (NYSE:NEE), Wolverine World Wide, Inc. (NYSE:WWW), and JetBlue Airways Corporation (NASDAQ:JBLU). These are undervalued compared to their peers based on a number of valuation measures, have good competitive positions in their respective industry, and also offer an exposure to international markets.

NextEra Energy, Inc. (NYSE:NEE)

NextEra is a utility company based in Florida with 41.5 MW in operation, and serves customers in 24 states in the U.S. and three provinces in Canada. The company has 423.2 million shares outstanding for a market capitalization $30.3 billion and an enterprise value (EV) of $56.8 billion (it has $22.7 billion of long-term debt). The company pays a quarterly dividend of $0.60 per share for an annualized dividend yield of 3.3%. It offers a decent dividend yield while the share price trades at a price-to-earnings ratio of about 14, compared to about 18 for the iShares U.S. Utilities ETF (IDU) that tracks the Dow Jones U.S. Utilities index. Its price-to-book ratio is comparable at 1.9 vs. 1.6 for the ETF.

NextEra has exposure to one of the largest utility markets in Florida through its subsidiary Florida Power & Light, and to renewable energy through NextEra Energy Resources. In fact, NexEra Energy Resources is the largest owner of wind assets in the U.S. and among the largest in Canada. And in terms of profitability, NextEra has a net income margin of 14.6% (based on trailing twelve months) compared to 9.5%, 13.5%, and 8.7%, respectively, for its largest competitors Duke Energy, The Southern Co., and Dominion Resources.  At the same time, NextEra has one of the highest leverage with a debt to equity ratio of 1.7 compared to debt to equity ratios of 1, 1.1, and 1.7 for Duke, Southern, and Dominion, respectively. High profit margins and high leverage increase NextEra's stock price, while the exposure to different energy sources (wind, nuclear, natural gas) and regions and the relatively stable nature of the business, make it a solid investment.

Wolverine World Wide, Inc. (NYSE:WWW)

If you have heard about Sperry, Stride Rite, Hush Puppies, Keds, Saucony, and Merrell you probably did not know that the company behind these (and other) brands is Wolverine World Wide. The company acquired Collective Brands' performance and lifestyle group (PLG) in 2012 for $1.23 billion, or ten times PLG's 2012 earnings before interest, tax, depreciation, and amortization. Wolverine has 49 million shares outstanding for a market capitalization of $2 billion and EV of $1.9 billion (it has more cash than debt). It pays a quarterly dividend of $0.12 per share for an annualized yield of 1.2%. The company has an estimated price-to-earnings ratio of 14 and its current price to sales ratio is 1.4. For comparison, some of its major competitors such as Deckers Outdoor, Crocs, and Steven Madden have 2013 estimated price to earnings ratios of 10.2, 10, and 14.1, respectively, and price to sales ratios of 1, 1.3, and 1.7, respectively.