Despite “one of the weakest energy environments we have ever seen” (CEO David Cornhill), AltaGas’s adjusted FFO of $140 mm was ahead of our $133 mm estimate and 1Q14’s adjusted FFO of $132 mm. We believe AltaGas has prepared for years to weather this diffi cult frac spread and power environment by building assets that earn revenues under long-term contracts. Small changes to our dividend discount model (DDM) see us increasing our 12-month target price to $47.00/share a
01 May 2015
1Q15 EPS; Moving Away From Commodity-Sensitive Revenues At The Right Time; Upgrade to Outperform
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1Q15 EPS; Moving Away From Commodity-Sensitive Revenues At The Right Time; Upgrade to Outperform
AltaGas Ltd. (ALA:TSE) | 0 0 0.5% | Mkt Cap: 4,575m
- Published:
01 May 2015 -
Author:
Steven I. Paget -
Pages:
6
Despite “one of the weakest energy environments we have ever seen” (CEO David Cornhill), AltaGas’s adjusted FFO of $140 mm was ahead of our $133 mm estimate and 1Q14’s adjusted FFO of $132 mm. We believe AltaGas has prepared for years to weather this diffi cult frac spread and power environment by building assets that earn revenues under long-term contracts. Small changes to our dividend discount model (DDM) see us increasing our 12-month target price to $47.00/share a