Macquarie Securities is filling a hole in its income-stock research coverage by bringing on a senior analyst to follow energy infrastructure companies.
It's an unsexy business of sour gas processing and frac spreads, but companies like AltaGas Ltd. and Keyera Corp. pump out cash flow are darlings of dividend investors.
To cover them, the Canadian office of Australia-based Macquarie is bringing on Rob Catellier, formerly of Clarus Securities, as head of Canadian energy infrastructure sector coverage.
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Since establishing itself in Canada in recent years, Macquarie has amassed a group of top analysts on other dividend producing sectors including pipelines, utilities, banks and real estate investment trusts.
Mr. Catellier is a substantial loss for Clarus, a firm he co-founded and where he served as head of research.
He will be based in Macquarie's Toronto office.
Stephen Harris, Macquarie's head of research, said in an announcement that Mr. Catellier may also expand his coverage to include power companies.