AltaGas has cash for high-growth deals

Article Excerpt

ALTAGAS LTD., $27.62, is a #1 Power Buy for 2022. The utility (Toronto symbol ALA; TSINetwork Rating: Extra Risk) (Shares o/s: 280.6 million; Market cap: $7.8 billion; Yield: 3.8%) processes, transports, stores and markets natural gas for producers. It also operates gas utilities and is a power generator. The company has just announced that it has agreed to sell its Alaskan Utilities unit to TriSummit Utilities for $1.025 billion. The sale of Alaskan Utilities will provide AltaGas with cash to fund what it sees as higher growth investments. The company’s remaining utilities will be concentrated in the Eastern U.S., including Maryland, Virginia, Michigan and the District of Columbia. They’re some of the fastest growing regions in the country. AltaGas is a #1 Power Buy for 2022. 2022. …

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.