Bullboard - Stock Discussion Forum AltaGas Ltd ATGPF

Primary Symbol: T.ALA Alternate Symbol(s): ATGFF | T.ALA.PR.A | 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... see more

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TSX:ALA - Post Discussion

AltaGas Ltd > IA Capital Bumps - G&M

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Post by ace1mccoy on Apr 27, 2023 7:27am

IA Capital Bumps - G&M

IA Capital Markets’ Matthew Weekes bumped his AltaGas Ltd. (ALA-T +2.98%increase

) target to $30 from $29 with a “buy” rating. The average is $31.20.

“ALA’s Q1/23 Normalized EBITDA and EPS were above estimates driven by higher Midstream volumes, favourable FX, and operational efficiencies,” said Mr. Weekes. “The Company reaffirmed its 2023 guidance and continued to advance its strategic priorities, including entering into a JV with Vopak to evaluate the new Ridley Island Energy Export facility to further increase scale and overall efficiency of the export platform. ALA has barriers to entry in global LPG exports through first-mover advantage and scale and de-risks operations through active hedging and contracted tolling. We are rolling our valuation forward to capture the first two quarters of 2024E and increasing our target.”

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Comment by bossu on Apr 27, 2023 8:25am

With the low Nat gas pricing they have the ''key''to manage the hedging process ''ALA has barriers to entry in global LPG exports through first-mover advantage and scale and de-risks operations through active hedging and contracted tolling.''

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AltaGas Ltd