3 Stocks Near 52-Week Lows Worth Buying

Just as we examine companies each week that may be rising past their fair value, we can also find companies potentially trading at bargain prices. While many investors would rather have nothing to do with companies tipping the scales at 52-week lows, I think it makes a lot of sense to determine whether the market has overreacted to the downside, just as we often do when the market reacts to the upside.

Here's a look at three fallen angels trading near their 52-week lows that could be worth buying.

Fueling America
I've said it before and I'll say it again: If you haven't been keeping up on what's going on with the United States' shale natural gas plays, then my Foolish colleague Aimee Duffy is your go-to source. One company she covered shortly after its IPO that has my full attention is midstream natural gas distributor Summit Midstream Partners (NYSE: SMLP  ) .

This natural gas pipeline company is pretty small (under $1 billion in market value) and, more interestingly, operates in two relatively obscure areas of the U.S., the Piceance Basin and the Fort Worth Basin. In its most recent quarterly update, Summit forecast $110 million to $120 million in EBITDA, as well as 8% to 10% distribution growth in 2013, even though Chesapeake Energy, which it claims as one of its largest customers, drastically cut its natural gas production for 2013. If Summit can produce growth this consistent during weaker periods of natural gas growth, imagine how rapidly it'll grow when Chesapeake kicks its natural gas drilling back into high gear.

Based on Summit's estimation of $1.60 in annual dividends, you'll be receiving a yield of 8.1%, and be positioning yourself in a sector expected to receive tens of billions in investments throughout the remainder of the decade.

We do have the power
Coal may be considered a dirty fuel source by many, but few fuel sources get as bad a rap as nuclear energy. With the memory of the earthquake-induced Fukushima Daiichi nuclear accident still fresh in our minds and nuclear costs rising, nuclear operators like Exelon and uranium processors like Cameco have come under serious pressure. However, a push toward U.S. energy independence might spark this entire sector -- in a good way, that is!

Specifically, the Market Vectors Nuclear & Uranium ETF (NYSEMKT: NLR  ) has my attention as a way to diversify your nuclear and uranium exposure throughout the globe. Within the U.S., President Obama's push toward energy independence could wind up granting subsidies to the nuclear industry to pursue what is, ultimately, a clean-energy alternative. Overseas, energy demands in China, India, and Russia are still largely unmet, and the growth prospects still high, giving this ETF a significant opportunity to outperform.

Furthermore, with a yield of 4.59% and an average P/E for its components of just 10, the downside seems minimal while the payout more than doubles the yield you'd get from the S&P 500. If you're worried about management expenses, we're talking a reasonable 0.61%, right in line with the sector average. With the ETF possessing both Exelon and Cameco within its holdings, I feel it has big-time potential.

Roll with the Tide
Relax, this isn't a plug for the University of Alabama, but it is the basis for an outperform call on offshore energy support and vessel supplier Tidewater (NYSE: TDW  ) . It's a rare day that I can reasonably make a case for why a shipping company appears to be a good value, but Tidewater fits the bill.

As I've mentioned frequently, the push toward energy independence within the U.S. and the increasing world demands for oil are pushing large oil and gas exploration companies overseas and into deepwater territories in order to drill for fuel sources. As Tidewater's specialty is in delivering people and supplies to offshore sites, as well as towing or anchoring mobile offshore rigs, among numerous other tasks, the surge in offshore demand is bound to create a major growth opportunity for Tidewater.

Unfortunately, investors have chosen to lump Tidewater in with many of the other bulk shippers although it has absolutely nothing to do with that aspect of the shipping business. Tidewater is valued at just 89% of book value, less than 10 times forward earnings, and is projected to grow revenue by an average of 15% this year and next year, according to analyst estimates. Where do I sign up?

Foolish roundup
This week's theme was really all about energy and energy independence. If you gear your investments around where the big investment dollars are headed, the chances are better than 50-50 that you'll pick out a winner.

I'm so confident that these three names will bounce off their lows that I'm going to make a CAPScall of outperform on each one.

Make sure you start 2013 with a bang and get the inside scoop on what Motley Fool superinvestor David Gardner will be buying this year. He's crushed the market in his Stock Advisor and Rule Breakers portfolios for years, and now I invite you to a personal tour of his flagship stock picking service: SupernovaJust click here now for instant access. 


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