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Bullboard - Stock Discussion Forum 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... see more

TSX:ALA - Post Discussion

AltaGas Ltd > Canaccord - new target price
View:
Post by morzine on May 19, 2022 7:54am

Canaccord - new target price

Canaccord 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.”

Comment by bttmfischer on May 19, 2022 10:51am
I am curious whether Canaccord is aware that in the early part of 2022 AltaGas had to write down $271 million as a result of regulatory difficulties in the Mountain Valley Pipeline completion. AltaGas is a minority stakeholder of MVP, the future of which is now uncertain, even though it is 94% complete. As 271 million is not walking around money,  it will be interesting to see how that will ...more