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. We have discussed APA Group a few times in recent reports and continue to like this defensive bond-like play into 2024, aided by its forecasted 6.8% yield over the coming year.
- In a similar fashion to TLS, we are considering APA for our Active Growth Portfolio into fresh 2023 lows – we already hold APA Group (APA) in our Active Income Portfolio.
MM is bullish toward APA, around $8
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