Earnings
October 31, 2020 - TRP
New! TC Energy Corp. Q3-2020 Earnings - Price Target Update .....
October 30, 2020 - CU
New! Canadian Utilities Ltd Q3-2020 Earnings, Price Target Update .....
October 29, 2020 - FN
New! First National Financial Corp. Q3-2020 Earnings, Price Target Update .....
October 28, 2020 - AW.UN
A&W Revenue Royalties Income Fund - Q3-2020 Earnings, Price Target Update .....
October 25, 2020 - AP.UN
Allied Properties REIT - Q2-2020 Earninng, Price Target Update .....
October 24, 2020 - NWH.UN
Northwest Healthcare Properties REIT - Q2-2020 Earnings, Price Target Updat .....
October 23, 2020 - RCI.B
Rogers Communications Inc. Q3-2020 Earnings & Price Target Update .....
October 22, 2020 - LB
Laurentian Bank of Canada - Q3-2020 Earnings, Price Target Update .....
Recommendation Changes
AW.UN, RCI.B, BPF.UN, EXE, AX.UN, more...

AltaGas Ltd - Q2-2020 Earnings, Price Target Update

This is only a sample of the article, please login to view the entire article

AltaGas Corp. (ALA) based in Alberta operates in two segments, Utilities and Midstream comprising total assets of $20B(US) as at Jun-30-2020. Utilities contribute 70% of earnings, midstream -30%. Following the acquisition of WGL Utilities in Jul-2018, the US natural gas utility sector is the largest contributor to earnings; the balance is mostly from midstream activities in western Canada including the recent completed Ridley Island (propane) Export Terminal in Prince Rupert. Total assets as of Dec-31-2017 were $10.3B, the increase to $21.1B is mainly from the acquisition of WGL Utilities for approximately $10B and capital spending offset by dispositions.

The utilities segment serves 1.7M customers through ownership of regulated natural gas distribution utilities in Maryland, Washington DG, Virginia, Michigan and Alaska, and two regulated natural gas storage utilities in the US. During 2018, WGL Utilities was acquired, increasing total assets by $9B to $21B including a 37% retained interest in Altagas Canada Inc. (ACI-TSX) and 33% ownership in Petrogas Corp, a privately held company who owns the Ferndale, Washington propane export terminal. Altagas Canada(ACI) was acquired by Public Sector Pension Investment Board in Q2-2020. Altagas Canada was formed mainly with the Canadian utility companies; the proceeds from sale were needed to fund the WGL acquisition.

The Midstream segment includes natural gas gathering and processing, natural gas liquids (NGL) extraction and fractionation, transmission, storage, natural gas and NGL marketing, including a 70% interest in the recently completed Ridley Island Propane Export Terminal, a 50% interest in AltaGas Idemitsu Joint Venture Limited Partnership (AIJVLP), an a 33% ownership of Petrogas Energy Corp. The midstream segment also holds an interest in four regulated pipelines in the Marcellus/Utica gas formation in northeast United States and WGL's retail gas marketing business. Petrogas has been in operation since 1986 provides crude oil and NGL marketing and supply services to propane retailers, refiners and petrochemical producers across North America, and also own and operate the Ferndale, Washington LPG export facility, which is the only operating LPG export terminal on the US Pacific Coast.

You must be a member to view the entire article, please subscribe or login


Login
Username
Password
New Issues & Acquisition
October 30, 2020
New! Coverage Universe - Weekly Price Change: Oct 23-30, 2020
October 23, 2020
Coverage Universe - Weekly Price Change: Oct 16-23, 2020
October 16, 2020
Coverage Universe - Weekly Price Change: Oct 9-16, 2020
October 9, 2020
Coverage Universe - Weekly Price Change: Oct 2-9, 2020
October 2, 2020
Coverage Universe - Weekly Price Change: Sept 25-Oct 2, 2020
September 25, 2020
Coverage Universe - Weekly Price Change: Sept 18-25, 2020
September 18, 2020
Coverage Universe - Weekly Price Change: Sept 11-18, 2020
September 11, 2020
Coverage Universe - Weekly Price Change: Sept 4-11, 2020