Topic: How To Invest

Power Growth Investor Hotline – Friday, May 1, 2020

Article Excerpt

ALTAGAS LTD., $16.19, 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. On March 31, 2020, the Public Sector Pension Investment Board and the Alberta Teachers’ Retirement Fund Board closed its previously announced acquisition of AltaGas Canada Inc. This included the 11.0 million common shares (approximately 37% interest) held by AltaGas. The sale means that 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, 2019, overall revenue fell 1.5%, to $1.87 billion from $1.90 billion a year earlier. The lower revenue came as the company sold assets to pay down debt. Excluding one-time items, earnings per share rose 1.3%, to $0.79 from $0.78. AltaGas’s integration of WGL is going very…

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.