Seapeak: Maintaining Preferred Stock Position Despite Russia Sanctions
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The Investment DoctorInvesting Group LeaderFollow5ShareSavePlay(7min)CommentsSummarySeapeak preferred shares remain attractive, with a robust underlying cash flow despite reported net losses driven by non-cash writedowns and restructuring charges.Preferred dividends are well covered by cash flow; Q3 and 9M 2025 losses stem mainly from $82M in asset writedowns and restructuring expenses.The Series A preferred shares yield 9% and are callable, but Seapeak has prioritized cash distributions over redeeming these high-yield securities.Potential sanctions on vessels serving Russian LNG projects pose a risk, but preferred equity holders are well protected relative to common unitholders. Suphanat Khumsap/iStock via Getty Images Introduction Several years after private equity firm Stonepeak acquired Teekay LNG Partners, the preferred shares of the acquiree remain outstanding and are listed on a Tier-1 exchange. Seapeak also still files quarterly financial statements, which makesThis article was written byThe Investment Doctor23.33K FollowersFollowThe Investment Doctor is a financial writer, highlighting European small-caps with a 5-7 year investment horizon. He strongly believes a portfolio should consist of a mixture of dividend and growth stocks. He is the leader of the investment group European Small Cap Ideas which offers exclusive access to actionable research on appealing Europe-focused investment opportunities not found elsewhere. The a focus is on high-quality ideas in the small-cap space, with emphasis on capital gains and dividend income for continuous cash flow. Features include: two model portfolios - the European Small Cap Ideas portfolio and the European REIT Portfolio, weekly updates, educational content to learn more about the European investing opportunities, and an active chat room to discuss the latest developments of the portfolio holdings. Learn more.Analyst’s Disclosure:I/we have a beneficial long position in the shares of SEAL.PR.A either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.Recommended For You