Topic: How To Invest

Power Growth Investor Hotline – Friday, April 30, 2021

Article Excerpt

ALTAGAS LTD., $22.97, is still a buy. The company (symbol ALA on Toronto), processes, transports, stores and markets natural gas for producers. It also operates natural gas utilities and is a power generator, with gas-fired, coal-fired, wind, biomass and hydroelectric plants. Almost all of AltaGas’ assets are now in the U.S. That in part reflects its July 2018 purchase of Washington, D.C.-based utility WGL Holdings Inc. for $4 billion. AltaGas continues to sell off non-core operations to focus on its main businesses and to pay down debt. And now, it’s taking advantage of the recent strong results from its U.S. Transportation and Storage unit in the wake of significant weather-driven natural gas price volatility. The company announced the sale this week of its U.S. Transportation and Storage business to Six One Commodities LLC and Vega Energy Partners, Ltd. The sale price was $344 million. AltaGas’s U.S. Transportation and Storage business was a smaller component of the company’s operations and included a number of natural…