Here are two buys with gains ahead

Article Excerpt

Long-time readers know that we keep you informed of important news about the stocks we cover. That means highlighting developments that promise to brighten their outlook. Here are two that stand out as buys this month: ALTAGAS LTD. $18.23 (Toronto symbol ALA; TSINetwork Rating: Extra Risk) (www.altagas.ca; Shares outstanding: 279.5 million; Market cap: $5.1 billion; Dividend yield: 5.3%) will pay $715 million in cash to take its ownership stake in Petrogas Energy Corp. to 74%—more than double its previous holding. It bought this new stake in the oil-and-gas liquids handling firm from SAM Holdings Ltd. Back in 2013, Calgary-based AltaGas purchased one-third interest in Petrogas for about $440 million as part of a transaction that let its joint venture partner Tokyo-based Idemitsu Kosan Co., Ltd. also acquire a one-third share. After the close of this latest share purchase, Idemitsu Kosan will own about 26% of Petrogas. The Ferndale propane and butane export terminal held by Petrogas in Washington State should be a good…

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