I feel it is at fair value. Looking at other stocks in the utilities index, a PE of 15 to 17 is the norm. My only concern is the high debt to equity ratio, agl is huge as well. Alinta does have an awesome asset stable, and expanding into cogeneration with Alcoa's alumina refineries. This style of plant is extremely efficient with the steam used to produce power and then used in Alcoa's alumina refinery.
