RE:About renewablesIt's always a question of valuation.
Due to the US election, the multiples for renewables did shoot up, betting on Biden investing big in green energy. The multiples got quite overinflated (imo), but at the time, investors in the sector were happy with that.
Now, reality has set in and multiples are getting back to normal. Still a bit high for me, but not crazy.
Altagas was the opposite, the multiples were in the dumpster, and that was before RIPET. Add RIPET and the other transactions and the stock is still under its normal valuation. They also just have to keep on executing in the next few years to warrant a premium valuation as Altagas has overperformed compared to peers (its financial numbers).
With the recent pullbacks, there are good opportunities on the market with other stocks trading pretty cheap right now (trading at low multiples despite having solid financial numbers). Can they go even lower? Certainly, I mean the market isn't shy on undervaluing good assets at times. That's the only reason at one time I could pick up extra Altagas shares under $12, when they were already a bargain when I started buying around $16-18.