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PetGas seen as attractive investment

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Petronas Gas could remain an appealing bet for investors amid the prolonged economic recovery.

Additionally, PetGas is in the value chain that provides access to relatively cleaner gas, said TA Securities. could remain an appealing bet for investors amid the prolonged economic recovery.

“This aligns with the current energy transition trend to cleaner energy alternatives vis-à-vis crude oil derivatives. As such, this enhances its environmental, social and governance rating to attract investors,” the research house said in a report yesterday.PetGas’ Q2 of FY21 net earnings slipped 19% year-on-year to RM463.9mil. Cumulatively, it turned in a core profit of RM990mil for the first half of FY21.

Meanwhile, AmInvestment Bank Research added that the stock currently traded at an attractive FY21 price earnings ratio of 16 times, below its three-year average of 18 times, and offered compelling dividend yields of 8%. Nonetheless, the brokerage is hopeful of an earnings recovery in FY22, given the gradual increase in vaccination rates.

 

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