Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on ALTAGAS LTD. We currently have 28 research reports from 1 professional analysts.
|13Feb17 19:44||MKW||AltaGas Ltd. Increases Size of Preferred Share Offering|
|13Feb17 14:39||MKW||AltaGas Ltd. Announces $200 Million Preferred Share Offering|
|25Jan17 21:40||MKW||AltaGas Ltd. Announces $2.5 Billion Subscription Receipt Offering Comprised of $2.1 Billion Bought Deal and $400 Million Private Placement|
|25Jan17 21:38||MKW||AltaGas Ltd. to Acquire WGL Holdings, Inc. in C$8.4 Billion Transaction|
|12Nov15 20:21||MKW||AltaGas Ltd. Increases Size of Preferred Share Offering|
|12Nov15 14:11||MKW||AltaGas Ltd. Announces $100 Million Preferred Share Offering|
Frequency of research reports
Research reports on
RECEIVES PERMIT FROM B.C. OIL AND GAS COMMISSION FOR NORTH PINE FACILITY
29 Sep 16
Impact: Modestly positive, as receipt of this permit brings AltaGas one step closer to making a final investment decision (FID) on the ~$200 mm North Pine Liquids Separation Facility. AltaGas expects to make an FID on the facility in 4Q16 as it looks to develop its northeast B.C. strategy to serve Montney production. The facility is expected to link with existing AltaGas infrastructure, including the proposed ~$450 mm Ridley Island propane export terminal.
SIGNS 20 MW BATTERY STORAGE CONTRACT AT POMONA, CA
16 Aug 16
On the morning of August 16, 2016, AltaGas announced that it had won a 20 MW contract to store power on the same site as its 44.5 MW gas-fired Pomona facility in greater Los Angeles. The contract was signed with Southern California Edison (a subsidiary of Edison International, EIX-N). Under the contract, AltaGas has committed to store up to 80 MWh of dispatchable power on site (4 hours' worth of full power). AltaGas has contracted Greensmith Energy Systems to install the lithium-ion batteries and control systems. The Company expects the project to cost from US$40-$45 mm and be online by YE2016.
2Q16 Beats Consensus, Raises Dividend
22 Jul 16
AltaGas reported positive results for 2Q16, beating consensus estimates, and raised its dividend payable September 15 by 6%. We expect that this will be AltaGas’s last dividend increase of 2016. By YE2016, AltaGas could reach final investment decisions on over $500 mm of new natural gas and NGL processing facilities. We have made only minimal changes to our 2016e EBITDA (-1%) and FFO/share (-6%). AltaGas has long been a solid ‘collector of assets’, finding or building good infrastructure projects, but now appears to becoming a ‘builder of systems’, creating assets that may help provide business for other new AltaGas assets.
Strong trading leads to upgrades
22 Mar 17
On the back of today’s positive trading update and slightly upgraded profit forecasts for FY2017, FY2018 and FY2019 we have reviewed our DCF analysis. This has led to an increased DCF valuation per share of 1500p (from 1200p) which we have made our new target price (from 1200p). Both TFP and JC Paper have contributed to the upgrades shown in the table below as have favourable currency movements. With the potential for further upgrades due to capitalising 3DP costs to come we maintain our Add recommendation.
Small Cap Breakfast
21 Mar 17
First Sentinel—Investment company expecting NEX admission/introduction on 24 March. £636k raised pre-IPO. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march. Tufton Oceanic Assets- The Company intends to invest in a diversified portfolio of second hand commercial sea-going vessels where the Investment Manager believes that an attractive opportunity exists in shipping. $150m raise. Admission 3 April.
Bang to rights
21 Mar 17
Tullow unexpectedly announced a US$750m rights issue on Friday at a 45.2% discount to the previous close. While this step confirms our investment thesis, the scale of the discount and the timing look like a slap in the face for investors and/or indicative of a weaker financial position than we are modelling. We publish revised estimates to reflect the impact of the issue and cut our Target Price to 215p per share (from 245p). We maintain our Hold recommendation.
Panmure Morning Note 22-03-2017
22 Mar 17
Acacia Mining and Endeavour Mining confirmed merger talks have now ended with Endeavour claiming an inability to “create adequate value for Endeavour shareholders”, most likely, we believe, given the disappointing ruling from the Tanzanian government on copper-gold concentrate sales. We were positive on the merger and believed a credible London listed Pan-African producer capable of challenging Randgold, would have been established. We make no change to our Hold recommendation today, and expect the shares to be marked lower in early trade.