My main concern is the balance sheet. They're going to take on a lot of debt with the new ventures. In saying this, the company does have a an extremely low long term debt ratio of around 15% of current capital. This is very low compared to other stocks in the utilities sector.
For the projects that are already on the books, they will need $479 million in debt and $217 million in equity. This is excluding any snowy projects. The wind farms do run on very stable cash flow ratio. The share price lately has seen some negitive pressure from the "not in my backyard story". If it breaks below the low of this year at $2.75. It is a huge buy. That is a p/e of 11. Even though PHY is a boring utility, the company is a great growth story. Just my thoughts.
