AGL has been a star performer in 2022 which has generated a significant paper profit in our Active Income Portfolio in just 2-months. The big question being is it just another bounce within an awful bear market or is AGL finally turning the corner? Last year the company said it plans to split in two with the “new fresh” AGL focused on energy retailing with plans for a carbon neutral goal, consensus is forecasting the stock to yield over 8% through 2022 however we don’t think that is remotely likely with the year more of a transition period in MM’s view, but it is defensive in nature and the value of their underlying assets makes it attractive for MM.
MM likes AGL into 2022
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