Opinions
Varun Anand
Atlantica Sustainable Infrastructure
AY-Q
PAST TOP PICK
Apr 27, 2021
Stock price when the opinion was issued
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It's undervalued vs. its peers. AY is diversified in terms of geography and technology. They have a big project tied to PG&E in California; there were concerns that if PG&E went bankrupt that AY would lose 10% of its cash flow. But PG&E never missed its payments. AY is worth a little more than current levels. It yields around 5.5%. AY has renewable assets around the world. It ranges $20-30. This is good for investors looking for mid-single digit dividend growth and low volatilty.
His preference in the renewable space. Diverse geographic footprint in ESG-friendly projects. Trades at a lower valuation than RNW.
(A Top Pick Jul 03/20, Up 36%) 2020 illustrated resiliency of their assets. Met cashflow and dividend targets. Positioned well to exceed growth targets over next few years. Sponsorship with AQN, which gives them financial flexibility. He's trimmed on outperformance. Looking for a better entry point to increase his weighting.