Topic: How To Invest

Stock Pickers Digest Hotline – Friday, August 2, 2019

Article Excerpt

ALTAGAS LTD., $19.98, symbol ALA on Toronto, processes, transports, stores and markets natural gas for producers. The company also operates natural gas utilities; and it 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 three months ended June 30, 2019, AltaGas’s overall revenue jumped 92.5%, to $1.17 billion from $610.0 million a year earlier. The WGL acquisition drove the revenue gains. Cash flow rose 8.5% in the latest quarter, to $102.0 million from $94.0 million. Per-share cash flow fell 28.8%, to $0.37 from $0.52, on more shares outstanding from the WGL purchase. AltaGas must continue to successfully integrate that acquisition. However, the process is going well, and WGL provides AltaGas with stable regulated utility cash flows as well…

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