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.

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AltaGas Ltd

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Post by morzineon Jul 06, 2022 10:55am

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Post# 34804910

Raymond James

* In response to its acquisition of the remaining 25.97-per-cent equity ownership of Petrogas Energy Corp. from Idemitsu Canada Corp. for $285-million, Raymond James analyst David Quezada raised his AltaGas Ltd. (ALA) target by $1 to $35.50, exceeding the $34.67 average, with an “outperform” rating.

“We believe this transaction is consistent with the company’s export-driven midstream strategy and comes at an attractive valuation while providing strong earnings accretion,” he said.

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