|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||15.09 - 15.13|
|52 Week Range||8.31 - 21.50|
|Beta (3Y Monthly)||0.78|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.73 (4.82%)|
|1y Target Est||N/A|
(Bloomberg) -- Canada investors holding utilities and energy bonds are finally being rewarded, though it has little to do with the power businesses.AltaGas Ltd. and other energy companies are among the largest issuers of longer-term bonds in Canada and they’ve been given a boost this year by rising expectations that the Bank of Canada will eventually have to cut interest rates.“The most duration sensitive bonds are outperforming and utilities and energy companies issue longer-dated bonds,” said Nicholas Leach, portfolio manager at CIBC Asset Management, which has C$134 billion ($102 billion) under management. These notes are leading gains versus other sectors that typically issue shorter-term notes such as financials, he said.Holding unhedged local bonds of 10 years or more gave Canadian investors top returns of 13% this year, according to a Bloomberg Barclays index. Buying notes of 7 to 10 years was the second-best bet, with a return of 8.3%. That compares with a 6.5% return for Canadian corporate bonds overall.AltaGas, a Calgary-based power and natural gas supplier, led gains this year, returning 20%. Canadian Utilities Ltd.’s note due 2062 was the second best performer, returning 18.8%, followed by Canadian Natural Resources Ltd.‘s bond due 2047 at 18.6%.It’s not just in Canada that long-duration bonds are attracting investors. Bets on dovish monetary policy, relentless demand for safe assets and conviction that the so-called lowflation era will last are spurring money managers to gorge on long-maturity bonds, or duration risk, worldwide.To contact the reporter on this story: Paula Sambo in Toronto at email@example.comTo contact the editors responsible for this story: Nikolaj Gammeltoft at firstname.lastname@example.org, Jacqueline Thorpe, David ScanlanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Altagas announces its 2019 balanced funding plan, including financial outlook and capital plan
Are you looking for a monthly dividend to replace your paycheck? These two energy-focused monthly dividend payers are worth a close look.
AltaGas Ltd. is intensifying its shift toward the U.S., following up its $4.6 billion takeover of Washington utility WGL Holdings Inc. with a plan to spin off its Canadian assets through an initial public offering. The IPO and a debt repayment from the new company would deliver C$1 billion ($770 million) in cash proceeds to AltaGas, which plans to use the money to repay a loan it took on to fund the WGL acquisition, according to a statement Thursday. The transaction would leave AltaGas focused on natural gas and U.S. utilities, while AltaGas Canada Inc. would own Canadian gas distribution and wind power assets.
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With high yields, Ferrellgas and AltaGas are interesting investment options for income investors, but they aren't of equal quality.
AltaGas Delivers $166 Million in Normalized Second Quarter 2018 EBITDA and Maintains 2018 Outlook
AltaGas Ltd., a Canadian pipeline, natural gas-processing and power-generating company, said Chief Executive Officer David Harris has stepped down as the board investigates a complaint against him. AltaGas didn’t describe the complaint, but said in a statement Wednesday that it isn’t related to strategy, operations or financial reporting. Founder and Chairman David Cornhill and board member Philip Knoll will serve as interim co-CEOs of the Calgary-based company until a replacement is found.
Canadian utility AltaGas Ltd on Wednesday said David Harris has resigned as chief executive officer. The company said the resignation follows a complaint, which is under review by the board. Founder David ...