27/03/2024 09:18

APA Group (APA) $8.34

APA is the largest owner of natural gas transmission in Australia, contracting with energy retailers to provide transmission from gas production fields to major cities. Macquarie posted a good note on the regulated utility yesterday morning, upgrading the stock from neutral to outperform and increasing its price target by 60c to $9.40, implying ~12% upside in the share price along with a ~7% yield.

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22/02/2024 17:18

APA Group (APA) $8.26

APA -1.23%: shares edged higher today after falling initially on a result that was inline with expectations while they maintained guidance. 1H24 earnings (EBITDA) of $840m was solid as was the 26.5cps dividend. The regulated utility said they were on track to deliver full-year underlying Ebitda of $1.87-1.91bn versus the current consensus of $1.876bn, along with a FY24 dividend of 56cps, putting it on a 6.8% yield.

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30/11/2023 09:13

Altium Ltd (ALU) v APA Group (APA)

ALU, like most of the Tech Sector, has enjoyed a solid 2023, advancing +26% year-to-date, but again, the last few months have proved disappointing as the stocks corrected 21% after an aggressive drive higher following an impressive result in August.

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24/11/2023 09:10

APA Group (APA) $8.34

The regulated energy utility company APA has struggled throughout 2023, not just this FY, but we believe the stocks is representing excellent value ~$8, especially if our dovish view towards bond yields plays out through 2024.

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09/11/2023 09:06

APA Group (APA) $8.38

While not in the real-estate sector, this infrastructure company has been weighed down by some stock-specific factors, but rising bond yields have also been a major impediment.  We have discussed APA a number of times over recent months as it screens well around $8 – recent MM APA comments.

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04/09/2023 09:48

Active Income Portfolio – Amendments

We are making multiple changes to the Income Portfolio.

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24/08/2023 09:42

APA Group (APA) $9.26

Energy  infrastructure company APA is currently in a trading halt as they raise a total of  $750mn at $8.50, a 8.2% discount to its last trade. $675m was placed very quickly with institutions yesterday while there is a share purchase plan available for retail investors with details sent shortly.

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16/08/2023 09:17

APA Group (APA) $9.49

We bought APA in the Income Portfolio in May at $10.09 and have received one dividend, with the position down ~3% overall. We now question whether or not we have this position wrong in the short term and should cut the holding. As a refresher, APA is a leading energy infrastructure business, owning or operating around ~$22bn of gas, electricity, solar and wind assets in Australia.

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26/05/2023 09:16

Active Income Portfolio – Amendment

MM is buying APA Group (APA)

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24/05/2023 09:18

APA Group (APA) $10.05

APA is classic defensive stock with regulated earnings linked to critical energy infrastructure. A lot of talk in the market has been around the high valuations being ascribed to these sorts of stocks as investors look to ‘hide’ in lower-risk equities, however, APA is trading ~25% below its 12-month high with weak momentum. We suspect the current lack of interest is for a few reasons.

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