Topic: How To Invest

Power Growth Investor Hotline – Friday, March 6, 2020

Article Excerpt

ALTAGAS LTD., $20.71, is 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. Apart from the company’s remaining 37% stake in AltaGas Canada (Toronto symbol ACI), almost all of its 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, 2019, AltaGas’s overall revenue fell 11.2%, to $1.53 billion from $1.73 billion a year earlier. The lower revenue came as the company sold assets to pay down debt. Cash flow per share rose 17.0%, to $1.10 from $0.94. AltaGas’s integration of WGL is going very well, and it has already sold over $2.2 billion in assets to pay for the purchase. That’s a big plus for investors going forward, as it can now use its strong…

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