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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 Sep 29, 2022 11:37am
513 Views
Post# 34994967

BMO's top stock picks - energy (G&M)

BMO's top stock picks - energy (G&M)

BMO analyst Ben Pham highlighted upside potential in the dividend-heavy energy infrastructure stocks,

“The U.S. dollar’s strength has turned into an earnings and FCF/sh tailwind for the Cdn. Energy Infrastructure sector. Over the last few years, it has more or less been a translation headwind partially offsetting energy infrastructure expansion growth. The U.S. dollar has benefited from its safe haven status and the Fed’s aggressive tightening cycle, pushing the USD/CAD to 1.37 (approximately 8 per cent year-to-date) with expectations towards 1.40 in the near-term. EMA [Emera Inc.], ALA [Altagas Ltd.], ENB [Enbridge Inc.], TRP [TC Energy Corp.], and FTS [Fortis Inc.] are the most sensitive to upward estimate revisions (range of +4-12%) given their high proportion of earnings generated in the US (we are currently modelling 1.25 USD/CAD). This should partially offset the negative valuation impact from rising interest rates that we flagged last week in our 2024 roll[1]forward report.”

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