Altera Infrastructure Preferreds Zoom Higher

I see that the 3 preferreds from Altera Infrastructure are moving strongly higher today.

The move higher is on an announced open market buyback of shares as they have been trading down in the $14/share area. Altera is the old Teekay Offshore which is now owned by Brookfield Business Partners (BBU)–part of giant Canadian asset management firm Brookfield

All the preferreds are now trading up $2-$3/share. You can see the issues here.

You can read about the buyback here.

7 thoughts on “Altera Infrastructure Preferreds Zoom Higher”

  1. Pickle.. they changed to a C corp, so no K-1. A quick peek showed that it was ROC last year

    1. Now if they were paying divies from profits… that would peak (had to use that word again) my interest.

      1. Tim, I have some position on ALIN-E and ALIN-B only because I was assured by the Teekay Offshore Investors Relations Dept in Canada that the preferreds would continue to trade under Brookfield. Last quarter, the report seems to suggest the loss was signficantly reduce under the Brookfield managment. Brookfield is awesome. Their eREIT common stayed well despite some SA writers aim to trash the stock and perhaps make some money in short selling. This will NOT work. Brookfield is no Karfunkel or Zyskind. Brookfield Renewable Energy common are doing substantially better than the likes of EPD and MMP and makes ET looks like perpetual wealth destruction machine. I do have some EPD (all with significant unrealized loss) and I laugh when I hear “the lower it gets, the more I buy.: Even AY (an European wind and sun renewable) handily beats EPD, presumably the best of the genre (actually I believe MMP is better; perhaps it is larger cap). Tim, thanks for introducing me to Brookfield, the best private equity firm with sharp management.

        1. Johnkcal,
          I also own some E and B that I purchased thinking that the Brookfield (the toll collectors, as someone in Forbes called them) backing would keep Pfs price stable. I was wrong, but willing to give Mr market a second opportunity, Ha, – like some of the nice and real good investors in this forum would say.

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