Altagas Ltd (ALA-T)

Balance sheet very strong. Seeing growth in utilities. Lots of low capital/high return mid stream opportunities. Recent acquisition of Pipestone from Tidewater. Currently trading at historically good valuation. Growing dividend that is reliable. Has commodity tailwinds. Interest rates leveling out. 

Be cautious. Biggest issue is high debt level. With each acquisition, debt goes up. Transition from fossil fuels to renewables will take longer than people think, so don't sell for that reason alone. Lower debt means more free cashflow, so wait for that.

Continues to de-risk balance sheet. Growing global export margins. Low cost of capital, high returns. Acquisition looks high quality, synergistic. Low 11x valuation, growing at 11%. Sees dividend growing at 5%. Commodity tailwinds of more robust global exports plus nat gas price. Yield is 4.34%.

M&A acquisitions performing 3-4 years later.
4 years of dividend increases. 
One of largest positions.
Debt falling down to better levels.
Midstream assets performing well.
New CEO also bringing credibility.

Derisking balance sheet. Very strong utility growth. Lots of low-capital, high-return, midstream growth opportunities. Low valuation of 11x, with a 10.7% growth rate. Risk profile of a utility with the upside of LNG. Building out global exports is a key theme. Nice yield of 4.33%, growing around 5%.

Has owned this for a long time. He added in the past year when shares were in the dumps, and has seen a nice upside in the past year as it pays a nice 4.5% dividend. Recent earnings were decent and they're paying down debt. They had a favourable ruling in the U.S. over a pipeline. Selling an asset will accelerate debt repayments. Buy a half position and do the DRIP. You don't have to be bullish in natural gas to buy this, not as much. The technicals show nat gas is basing nicely. ALA collects a toll of whatever flows through their pipeline, but of course the more volume the better

Recent earnings report was strong.
Dividend is safe - very good at coverage.
Defensive name with utilities style business.
Current share price good time to buy.
Forest fires tough on business, but overall a good business. 
Higher interest rates weigh on cost of capital - but not overwhelming concern. 

AQN trades at a reasonable 14x but has no growth now. They're looking at spinning out their renewable business then reaccelerate growth. Too uncertain. Altagas has 14% growth and trades around 11x and pays a similar dividend. Safer than AQN.

Had a strong Q1 and showing progress in de-risking global exports. LNG growth and strong utility growth. Low capital yet high return midstream. He expects 9.5% growth and trades at a reasonable 10.2x PE. Pays a nearly 5% dividend. Unfairly ignored by dividends. Higher interest rates have chased money away while money has poured into the FAANGs.

Great proxy for gas. Totally basing. Likes the chart formation because you can buy at the bottom and sell at the top. Has a history of hitting the top and then falling. A trade for now. If it breaks through, lots of upside, but that's an if. See his Top Picks.

Trades at 10x, growth rate around 10%. A mid-streamer, but trades more like a utility. Dividend very well covered. Stock hasn't worked for a while, so it probably won't hurt you here. A question of when, not if, it will work. LNG and access to global markets is certainly a tailwind for this name. Yield is 4.86%.

Hold a lot natural gas processing assets located in prime areas--northeast BC--for LNG Canada, which is a slow-moving project but will be game-changing. Existing projects in Washington state and west coast Canada continue to be strong. NAT gas processing business is strong. Their utility business in the States trades at a big discount to peers because of their debt level. But they will sell their stake in the Mountain Valley Pipeline in 6-12 months, which will lessen debt. A misunderstood name, but an opportunity at these levels. Shares should trend around $30 looking ahead.

Utilities very well positioned with energy recovery.
Valuable assets that are hard to replicate.
Financial guidance very strong.
Current share price not reflecting value.
~4.5% dividend very strong - room for growth.
Not much risk downside.

Not a nat gas producer, but processor with some utilities business. Hasn't owned this since 2016. From 2016 to Covid that had several trials, but they righted their ship and divested some holdings. A better stock not, but not compelled to own it. Has exposure to propane and nat gas, but there are better peers than this.