DTB - Avista Corporation: Excellent Renewables Play But Price A Bit High

• Avista Corporation is far more focused on renewables than most electric utilities and already derives more than half of its production from green energy sources.
• The market has been very energetic about renewables, with ESG funds consistently beating many traditional funds in terms of inflows/outflows.
• This could help to put a floor on the stock but electrification driven by renewables may be a bit oversold by the media.
• The company's debt load appears reasonable and it appears able to maintain its current 4.26% yield.
• The valuation looks a bit high relative to a few of its peers that are also focusing heavily on renewable energy.

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