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AltaGas Ltd T.ALA

Alternate Symbol(s):  ATGFF | T.ALA.PR.A | ATGPF | T.ALA.PR.B | T.ALA.PR.G | ATGAF

AltaGas Ltd. is a Canada-based energy infrastructure company that connects natural gas and natural gas liquids (NGLs) to domestic and global markets. The Company’s segments include Utilities and Midstream. Its Utilities segment owns and operates franchised, rate-regulated natural gas distribution and storage utilities, which includes four utilities that operate across five United States jurisdictions. It Utilities segment also includes storage facilities and contracts for interstate natural gas transportation and storage services, as well as the affiliated retail energy marketing business. Its Midstream segment includes global exports, which includes its two LPG export terminals; natural gas gathering and extraction, and fractionation and liquids handling. Its Midstream segment also consists of natural gas and NGL marketing business, domestic logistics, trucking and rail terminals, and liquid storage capability. Its subsidiaries include Wrangler 1 LLC, WGL Holdings, Inc. and others.


TSX:ALA - Post by User

Post by morzineon May 19, 2022 7:54am
411 Views
Post# 34694696

Canaccord - new target price

Canaccord - new target priceCanaccord genuity's Johmn Bereznicki raised his target for ALA to $35 from $34, with a 'buy' rating.

“Despite rising interest rates and recessionary fears, domestic midstream equities have risen an average of 18 per cent year-to-date,” he said. “Midstream dividend yields are now at the lower-end of their historic spreads to the Canada 10-year bond, which we believe is reflective of strong industry fundamentals. In our view, the sector’s ability to grow free cash flow in an inflationary environment also makes it appealing to investors.

“There are no changes to any of our recommendations as a result of these changes. For those looking for relative commodity price beta we recommend KEY, while ALA remains our defensive pick. We also believe PPL enjoys strong growth optionality given its large, integrated asset base.”

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