Altagas Ltd

ALA-T

TSE:ALA

22.33
0.54 (2.48%)
AltaGas is a North American energy infrastructure company based in Calgary, Alberta. The company operates in three business segments: gas, power generation, and utilities. The company is in the process of acquiring WGL Holdings.
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Analysis and Opinions about ALA-T

Signal
Opinion
Expert
TOP PICK
TOP PICK
July 5, 2011
Growth in 2011 because they will have some new gas plants. In 2012 there will be more growth. 18% increase in cash flows due to some power projects they are bringing on. Big one will be 2014 when they will have over 100 MW for a project in British Columbia. Cash flow will double by 2016.
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Altagas Ltd (ALA-T)
July 5, 2011
Growth in 2011 because they will have some new gas plants. In 2012 there will be more growth. 18% increase in cash flows due to some power projects they are bringing on. Big one will be 2014 when they will have over 100 MW for a project in British Columbia. Cash flow will double by 2016.
TOP PICK
TOP PICK
April 8, 2011
Energy infrastructure play. Basically have a balance between power, gas and utility. Benefiting from Alberta’s leverage to power prices. With Transalta (TA-T) bringing down its Sundance plant, supply dynamics has tightened up. Also benefiting from strong frac spreads. Very visible growth opportunities for the next several years. Goal is to double EBITDA by 2016. 5% yield.
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Altagas Ltd (ALA-T)
April 8, 2011
Energy infrastructure play. Basically have a balance between power, gas and utility. Benefiting from Alberta’s leverage to power prices. With Transalta (TA-T) bringing down its Sundance plant, supply dynamics has tightened up. Also benefiting from strong frac spreads. Very visible growth opportunities for the next several years. Goal is to double EBITDA by 2016. 5% yield.
PAST TOP PICK
PAST TOP PICK
January 10, 2011
(Top Pick Dec 29/09, Up 19.01%) Reach his targets that he set for it.
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Altagas Ltd (ALA-T)
January 10, 2011
(Top Pick Dec 29/09, Up 19.01%) Reach his targets that he set for it.
COMMENT
COMMENT
September 13, 2010
There would be some upside if you think the economy in Alberta is going to increase. Fairly hedged so natural gas prices do not hurt or help them too much so would be more concerned on the electricity side.
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Altagas Ltd (ALA-T)
September 13, 2010
There would be some upside if you think the economy in Alberta is going to increase. Fairly hedged so natural gas prices do not hurt or help them too much so would be more concerned on the electricity side.
HOLD
HOLD
July 23, 2010
(Market Call Minute.) Attractive from a yield perspective but doesn't see a catalyst going forward.
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Altagas Ltd (ALA-T)
July 23, 2010
(Market Call Minute.) Attractive from a yield perspective but doesn't see a catalyst going forward.
SELL
SELL
June 11, 2010
Announced the distribution cuts in July. Did some digging and now prefers other trusts like Northland Power. Significant exposure in gas market. Hydro market that they like is 5 years off and they don’t have expertise in hydro generation. Prefer Inter pipe, Fort Chicago.
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Altagas Ltd (ALA-T)
June 11, 2010
Announced the distribution cuts in July. Did some digging and now prefers other trusts like Northland Power. Significant exposure in gas market. Hydro market that they like is 5 years off and they don’t have expertise in hydro generation. Prefer Inter pipe, Fort Chicago.
BUY
BUY
May 13, 2010
Energy infrastructure involved in the midstream business. Have wind power and energy storage assets. Will be converting to a corp. and reduce their distribution to reflect the new dividend that they want to pay. Good price. Can generate about $100 million in free cash flow.
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Altagas Ltd (ALA-T)
May 13, 2010
Energy infrastructure involved in the midstream business. Have wind power and energy storage assets. Will be converting to a corp. and reduce their distribution to reflect the new dividend that they want to pay. Good price. Can generate about $100 million in free cash flow.
BUY WEAKNESS
BUY WEAKNESS
January 25, 2010
Reasonable buy. Good yield. Probably $2 billion of growth projects over the next 5 years. Will probably trim distributions a little when they convert but won't be a huge slashing, maybe 15%-20%. That could be a good buying opportunity.
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Altagas Ltd (ALA-T)
January 25, 2010
Reasonable buy. Good yield. Probably $2 billion of growth projects over the next 5 years. Will probably trim distributions a little when they convert but won't be a huge slashing, maybe 15%-20%. That could be a good buying opportunity.
TOP PICK
TOP PICK
December 29, 2009
6.94% bond maturing June 29/16. 6.3% yield. Holding the bond until maturity would not be a problem. Likes the energy space and feels gas is undervalued. Good cash flow and they don't have to issue a lot of debt. If he saw 150 basis point move in the next year or two he might look at lightening up.
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Altagas Ltd (ALA-T)
December 29, 2009
6.94% bond maturing June 29/16. 6.3% yield. Holding the bond until maturity would not be a problem. Likes the energy space and feels gas is undervalued. Good cash flow and they don't have to issue a lot of debt. If he saw 150 basis point move in the next year or two he might look at lightening up.
SELL
SELL
December 11, 2009
Planning on converting to a corp at the beginning of the 2nd half of 2010 and looking at going from 90% payout to 40%-50%. If this happens, the dividend won't be safe. Not thrilled with the business model.
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Altagas Ltd (ALA-T)
December 11, 2009
Planning on converting to a corp at the beginning of the 2nd half of 2010 and looking at going from 90% payout to 40%-50%. If this happens, the dividend won't be safe. Not thrilled with the business model.
BUY
BUY
November 25, 2009
Looking quite attractive. Likes midstream infrastructure space. Has been penalized. Some exposure to field processing/gathering, which has been soft this year. Some catalysts are coming up that bode well. 11.5% yield.
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Altagas Ltd (ALA-T)
November 25, 2009
Looking quite attractive. Likes midstream infrastructure space. Has been penalized. Some exposure to field processing/gathering, which has been soft this year. Some catalysts are coming up that bode well. 11.5% yield.
SELL
SELL
November 18, 2009
(Market Call Minute.) There is a good chance there could be an equity issue and they will be cutting their distribution.
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Altagas Ltd (ALA-T)
November 18, 2009
(Market Call Minute.) There is a good chance there could be an equity issue and they will be cutting their distribution.
Laura Lau

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Price
$18.910
Owned
Unknown
DON'T BUY
DON'T BUY
November 10, 2009
Little too much debt and got punished by the market. As they go back into a corporate entity, will the market care? He is very nervous about why the market values it as it does. It could sink down.
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Altagas Ltd (ALA-T)
November 10, 2009
Little too much debt and got punished by the market. As they go back into a corporate entity, will the market care? He is very nervous about why the market values it as it does. It could sink down.
DON'T BUY
DON'T BUY
November 6, 2009
Energy infrastructure company. There are others he prefers better. 12% distribution is suspect.
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Altagas Ltd (ALA-T)
November 6, 2009
Energy infrastructure company. There are others he prefers better. 12% distribution is suspect.
BUY
BUY
September 28, 2009
Managed fairly conservatively. 60% of the business is gathering and midstream and midstream has been very profitable. Relatively safe. Management has indicated they will be paying a dividend of about the same level after they convert to a corp.
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Altagas Ltd (ALA-T)
September 28, 2009
Managed fairly conservatively. 60% of the business is gathering and midstream and midstream has been very profitable. Relatively safe. Management has indicated they will be paying a dividend of about the same level after they convert to a corp.
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