Topic: How To Invest

Power Growth Investor Hotline – Friday, March 15, 2024

Article Excerpt

ALTAGAS LTD., $29.30, 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. For the quarter ended December 31, 2023, AltaGas’ earnings, excluding one-time items, rose 13.2%, to $214 million, or $0.98 a share, from $189 million, or $1.02. Meanwhile, due to its strong outlook, AltaGas raised its quarterly dividend by 6.3% with the March 2024 payment, to $0.2975 a share from $0.28. The stock now yields a high 4.1%. AltaGas’s stock trades at just 7.4 times the $3.95 in cash flow per share that the company is forecast to generate in 2024. AltaGas is a buy. AltaGas recent coverage: February 2024 issue Hotline for January 5, 2024 ATS CORP.,…