APA Group Looks Overvalued After its Recent Strong Share Price Rally
Narrow moat-rated APA Group's share price has recovered strongly, providing investors with another good opportunity to reduce exposure. While still a good-quality company with astute management, its best days are likely behind it. At the current price of AUD 9.83, APA Group screens as expensive, trading 16% above our unchanged AUD 8.50 per share fair value estimate and offering a 4.5% mostly unfranked distribution yield. The stock is up more than 30% since November 2016 when we had a positive re...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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