A few weeks ago I mentioned a report from an analyst at UBS who expressed some concerns about future utility stock valuations as more cost-effective renewables are predicted to come online in the years ahead.
Apparently, he isn’t the only one who is optimistic about the economics of renewables while at the same time skeptical about the rich multiples many utility shares currently trade at:
MidAmerican Energy Holdings Co., the power provider owned by Warren Buffett’s Berkshire Hathaway Inc., is targeting renewable energy deals amid high utility valuations, Chief Financial Officer Patrick Goodman said. “We believe renewables is the better investment right now because utilities are too expensive” MidAmerican’s Goodman said in an interview today at an Edison Electric Institute conference in Phoenix.
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