APA Group Looking Better Value as Regulatory Risk and Higher Bond Yields Depress Share Price
Market expectations for lower-for-longer interest rates reached an extreme in July 2016 and propelled income stock prices to record levels. But global government bond prices (which move inversely to yields) have since fallen, pushing yields higher, and dragging share prices for many income stocks including APA Group back to more reasonable levels. At the current price around AUD 8.10, APA Group trades at a modest discount to our unchanged AUD 8.50 fair value estimate, and offers a distribution y...APA Group's principal activities are the ownership and operation of energy infrastructure assets and businesses, including energy infrastructure, primarily gas transmission businesses located across Australia; asset management and operations services for the majority of Co.'s energy investments and for third parties; and energy investments in listed and unlisted entities. Co. comprises the following reportable segments: Energy Infrastructure, Asset Management, and Energy Investments.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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