Spark Infrastructure Group
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Based in AustraliaCompany profile

Spark Infrastructure Group is engaged in investment in regulated electricity distribution and transmission businesses in Australia. The Company operates through four segments: Victoria Power Networks, SA Power Networks, TransGrid and Other. Victoria Power Networks holds interest in two electricity distribution businesses in Victoria, which include CitiPower and Powercor. SA Power Networks is the operator of South Australia's electricity distribution network, supplying approximately 856,000 residential and commercial customers. TransGrid connects generators, distributors and end users in New South Wales (NSW). It holds interest in the electricity transmission business, which include NSW Electricity Networks Assets Holdings Trust (NSW Electricity Networks Assets) and NSW Electricity Networks Operations Holdings Trust (NSW Electricity Networks Operations). Other represents the economic interest in DUET Group. The Company also invests in regulated water and sewerage assets.

Closing Price
$1.39
Day's Change
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--
Day's High
1.39
Day's Low
1.39
Volume
2,000

AT&T stock falls after MoffettNathanson downgrades, saying dividend looks less compelling

8:28 am ET November 19, 2019 (MarketWatch)
Print

Shares of AT&T Inc. (T) are down 1.7% in premarket trading Tuesday after MoffettNathanson analyst Craig Moffett downgraded the stock to sell from neutral. "Despite a target price well below AT&T's recent trading range, we've remained Neutral since our upgrade from Sell last November, based largely on the view that global yield starvation would attract capital to AT&T irrespective of its fundamentals," he wrote. "But in the wake of a strong rally that has left AT&T's valuation stretched and its dividend yield less compelling (particularly when measured against the recent recovery in the 10-year Treasury yield), we believe the time has come when the market will start paying attention to fundamentals again." AT&T's dividend yield is 5.15%, while the S&P 500's in 1.9%. He questions whether the company will be able to achieve its 2020 and three-year targets given challenges in its entertainment business, secular problems in business wireline, and a difficult pay-TV landscape. This will put pressure on AT&T's wireless business to deliver strong results, in Moffett's view, but that industry is becoming more competitive. He kept his $30 target price. AT&T shares have risen 39% so far this year, as the S&P 500 has gained 25%.

-Emily Bary; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

November 19, 2019 08:28 ET (13:28 GMT)

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