AltaGas has a big edge

Article Excerpt

ALTAGAS LTD. $19.72 (Toronto symbol ALA; TSINetwork Rating: Extra Risk) (416-365-3535; www.altagas.ca; Shares o/s: 275.9 million; Market cap: $5.5 billion; Divd. yield: 4.9%) recently opened Canada’s first marine propane export terminal. The first shipment for Asia left the company’s 70%-owned Ridley Island Propane Export Facility on May 23, 2019. In 2017, AltaGas entered a multi-year agreement to sell Astomos Energy, a Japanese propane importer and distributor, at least 50% of the propane shipped annually from that Prince Rupert, B.C., facility. The $500 million facility provides producers and customers with a huge geographic advantage given its relatively short shipping distance to markets in Asia. Specifically, that’s a 10-day shipping time from Canada’s West Coast compared to 25 days from the U.S. Gulf Coast. AltaGas is a buy. buy…

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