Founded in 1994, Calgary-based AltaGas has grown its asset base to over $20 billion currently. Approximately 55% of its revenues and earnings come from running Washington Gas & Light (GL), the gas and power utility supplying Washington DC, Maryland, and parts of Virginia. The remaining operations contribute 45% of revenues. They include pipelines that supply gas and Natural Gas Liquids (NGLs) from fields in Alberta and Northeastern BC to its export terminals on the Pacific coast at Ferndale WA, and Ridley Island for export to Asia. AltaGas supplied 28% of Japan’s propane imports and 13% of South Korea’s liquified petroleum gas (LPG) imports in 2024.
Income Investor
AltaGas remains a Buy for the growth in its midstream and export business, and its potential for further growth in its WGL utilities segment from data centre construction in Virginia. - Gavin Graham
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ALA was first recommended here on July 29, 2022