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AltaGas Ltd - 2018 Earnings & 2019 Forecast

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AltaGas Corp(ALA) reported results for the 2018 year, which included the acquisition of WGL Utilities beginning in Jul-2018. The WGL Utilities was a major acquisition that almost doubled assets to $23B but took three years to close. AltaGas operates in the public utility, natural gas midstream, and power generation sectors. The acquisition of WGL intended to expand their presence in the natural gas utility sector in the US.

Altagas share price at $17.76 is currently well down from the all-time high $52.59 back in Aug-2014. This is a result of a paying about 40% higher than fair value for a US natural gas utility serving Washington DC. The results for 2018 and guidance for 2019 point to a bottoming out of this stock.

AltaGas operates in three segments, Utilities, Midstream and Power Generation. The Utilities segment serves 1.6M customers with a rate base of US$3.7B through ownership of regulated natural gas distribution utilities across five jurisdictions in the US, two regulated natural gas storage utilities in the US, and contracts for interstate natural gas transportation and storage services.

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