While many companies are rising past their fair values, others are trading at potential bargain prices. Although many investors would rather have nothing to do with stocks wallowing at 52-week lows, it makes sense to see whether the market has overreacted to a company's bad news.

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

Hardly fizzling out
I'm going to kick off this week of value stock hunting in true Warren Buffett fashion by suggesting that value investors look no further than beverage giant Coca-Cola (NYSE:KO) if they want a great deal over the long run.

The biggest challenge currently facing Coca-Cola is the fact that consumers are becoming more health conscious, at least in the U.S., and shunning soda consumption. Since Coca-Cola is most commonly recognized for its namesake soda, this is a potential blow to Coke's growth prospects in the U.S., one of its highest margin markets.

But don't let Coca-Cola's whipsawing share price over the past year fool you. This is a stock with decades of growth left in its beverage portfolio for patient value investors.

For starters, Coca-Cola operates in all but two countries around the world: North Korea and Cuba. However, with President Obama and Cuba's President Raul Castro burying the hatchet, per se, on decades of political disagreements between their countries, it looks as if Coca-Cola may soon be coming to Cuba.

Source: Coca-Cola.

Emerging markets are a source of incredible growth opportunity for Coke, as there are many regions within select countries that would likely still be considered underserved. Let's not also forget that in some regions of the world being able to buy a soda can be considered a small luxury for a burgeoning working class.

Coca-Cola also has a stranglehold on the world's most valuable beverage brands. In its product portfolio there are currently more than 500 sparking and still beverage brands, of which 20 rake in a minimum of $1 billion in revenue each year. Coca-Cola you know, but other billion dollar brands you may not be as familiar with include Fuze Tea, Simply Orange, Dasani, Minute Maid, and Powerade, which are all part of the Coca-Cola lineup. With beverages geared toward health-conscious drinkers and those needing a "sugar rush" to stay awake, Coke has practically every consumer covered.

Furthermore, the red and white Coca-Cola logo, per Business Insider, is recognized by 94% of people around the globe. Brand recognition is a big key to success for Coke as it helps to keep consumers loyal to the brand.

Sporting a 3.2% dividend yield and a forward P/E of 19, I'd say Coca-Cola has more upside to deliver to long-term shareholders.

Here's a value stock worth "Enabling"
Energy stocks haven't been able to catch a break since last summer, with West Texas Intermediate prices down by more than 50% and natural gas prices also off by a double-digit percentage. For oil and gas drillers it has meant the need for significant capital expenditure cutbacks and potentially even rig idling.

For midstream company Enable Midstream Partners (NYSE:ENBL) this has led to concerns about whether fossil fuel transports and processing would slow to the point that the company is forced to cut its currently robust dividend yield.

On one hand, there is always concern that a protracted downturn in commodity prices could impact the midstream sector -- especially for companies that are exposed to market prices and aren't hedged for the future. However, Enable Midstream Partners' management team has done a good job of positioning the company for success, even in an environment where commodity prices are well off their highs.

For example, in 2014 Enable's contract profile showed that 50% of its margins were based on minimum value commitment contracts, while another 22% was fee-based. This left about 28% of Enable's business exposed to the wild swings of WTI oil.

Source: Enable Midstream Partners. 

In 2015, though, 79% of its business is based on MVC contracts and other fee-based businesses, with an additional 9% hedged. Just 12% of its margin is exposed to market conditions this year.

Source: Enable Midstream Partners.

For investors, this means minimal cash flow disruption and the strong expectation that Enable Midstream will be able to maintain, or even grow, its distribution payment in 2015 and beyond. As a refresher, its dividend yield is currently a delectable 7.3%!

Another key point I'd remind you of is that oil is a finite resource, and weaker oil prices are only liable to boost demand and eventually put a floor under WTI. As emerging market demand for oil grows I would expect the price of oil to climb many times over in the coming decades. This should only serve to give Midstream operators such as Enable even stronger negotiating power than they already have.

Trading at just 83% of its book value and 15 times forward earnings, I'd seriously consider becoming an "enabler" of this stock.

The "high rent district"
Finally, value stock investors looking for a good deal would be wise not to ignore BioMed Realty Trust (UNKNOWN:BMR.DL), a real estate company that leases property to the life sciences industry within the health care sector.

Think about what a perfect niche this is for BioMed Realty Trust. We have personalized medicine coming to the forefront right alongside biopharmaceutical companies that are developing drugs which are more specialized and targeted than ever. If even a small fraction of these companies are succeeding, they're going to need space to grow and expand their manufacturing capabilities. That's where BioMed comes into play.

As of BioMed's latest quarterly report, it sported a portfolio totaling 17.5 million leasable square feet, including a record 2.8 million in gross leasing in all of 2014, a new annual record. Also noteworthy, 85.4% of its active new construction is already pre-leased.

Source: BioMed Realty Trust.

Three factors in particular make BioMed Realty Trust a strong name for value stock investors to consider (if the prior points didn't move you). First, it maintains significant pricing power that allows its rental agreements to escalate rent alongside inflation. This means deals put in place today won't necessarily be disadvantageous for the company in 2020, for instance. Secondly, BioMed's contracts are often locked in for the long-term, leading to steady and predictable cash flow for the Trust. Finally, as inflation increases the value of its properties over time, it has the opportunity to jettison older buildings for a significant profit. In the fourth-quarter it sold a manufacturing facility in Maryland for $322.5 million, netting a $136.6 million gain in the process over an 8.5-year holding period. That's a phenomenal return of nearly 15% per year. 

I believe that as interest rates rise it'll only reinforce the need for life science companies to hold off on purchasing their own facilities and instead turn to leasing, which is cheaper in the short- and intermediate-term.

A 4.7% dividend yield and a forward P/E of 14 could be just what the doctor ordered!