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Last $27.15 USD
Change Today -0.30 / -1.09%
Volume 800.0
As of 8:10 PM 09/1/15 All times are local (Market data is delayed by at least 15 minutes).

altagas ltd (ATGFF) Snapshot

Open
$27.51
Previous Close
$27.45
Day High
$27.51
Day Low
$27.05
52 Week High
09/5/14 - $47.85
52 Week Low
08/24/15 - $20.36
Market Cap
3.7B
Average Volume 10 Days
4.4K
EPS TTM
--
Shares Outstanding
135.7M
EX-Date
08/21/15
P/E TM
--
Dividend
$1.93
Dividend Yield
5.58%
Current Stock Chart for ALTAGAS LTD (ATGFF)

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altagas ltd (ATGFF) Details

AltaGas Ltd. Operates as a diversified energy infrastructure company in North America. It operates through three segments: Gas, Power, and Utilities. The Gas segment engages in natural gas gathering and processing; natural gas liquids (NGL) extraction and fractionation, transmission, and storage; and natural gas marketing activities. This segment also buys and resells energy; and offers gas transportation, storage, and gas marketing services for producers. It serves natural gas producers, national hotel chains and retailers, hospitals, office buildings, and other institutions through 4 natural gas transmission systems with transportation capacity of approximately 559 million cubic feet per day; approximately 70 gathering and processing facilities; and a 6,100 KM of gathering lines upstream of processing facilities, as well as owns 3 NGL pipelines and leases 1 NGL pipeline with combined capacity of 189,300 stock tank barrels per day. The Power segment is involved in the sale of electricity and ancillary services in Alberta, British Columbia, California, Colorado, Michigan, and North Carolina. As of December 31, 2014, it had had 1,285 megawatt (MW) of installed power capacity, including 507 MW of gas-fired generation, 353 MW of power generation, 223 MW of run-of-river generation, 117 MW of wind power generation, 35 MW of biomass generation, 30 MW of cogeneration capacity, and 20 MW of gas-fired peaking capacity. The Utilities segment operates natural gas distribution utilities and a regulated natural gas storage utility. It owns and operates utility assets that deliver natural gas to end-users in Alberta, British Columbia, and Nova Scotia in Canada; and Michigan and Alaska in the United States. AltaGas Ltd. was founded in 1993 and is headquartered in Calgary, Canada.

1,700 Employees
Last Reported Date: 03/4/15
Founded in 1993

altagas ltd (ATGFF) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: C$806.3K
President and Chief Operating Officer
Total Annual Compensation: C$492.9K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: C$339.0K
Executive Vice President
Total Annual Compensation: C$340.5K
Senior Vice President of Commercial & Busines...
Total Annual Compensation: C$330.0K
Compensation as of Fiscal Year 2014.

altagas ltd (ATGFF) Key Developments

AltaGas Ltd. Plans to Build LPG Export Terminal on Canada's West Coast

AltaGas Ltd. plans to invest CAD 1 billion over the next two years to build NGL gathering and processing infrastructure and a liquefied petroleum gas export facility in British Columbia, which would more than double its west coast export capacity as it seeks alternatives to the glutted North American fuels market. The company has entered into an exclusivity agreement to develop the 25,000-barrel-per-day LPG export site. The company and its partners also plan to build a fractionation plant and other infrastructure near northeastern British Columbia's Montney and Duvernay shales. That plant, in Fort St. John, would give producers an alternative to shipping NGLs to Fort Saskatchewan, Alberta, the existing processing hub for western Canada. The company is also making progress on its proposed Douglas Channel LNG project on British Columbia's northern coast.

AltaGas Ltd. Approves August 2015 Dividend on Common Shares and Quarterly Dividend on Preferred Shares for the Period Ending September 30, 2015, Payable on September 15, 2015 and September 30, 2015 Respectively; Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Capital Expenditure Guidance for the Full Year of 2015 and Earnings Guidance for the Second Half of 2015

The board of directors of AltaGas Ltd. approved the August 2015 dividend of $0.16 per common share. The dividend will be paid on September 15, 2015, to common shareholders of record on August 25, 2015. The ex-dividend date is August 21, 2015. This dividend is eligible for Canadian income tax purposes. The board of directors approved a dividend of $0.3125 per share for the period commencing July 1, 2015 and ending September 30, 2015, on AltaGas' outstanding Series A Preferred Shares; a dividend of $0.275 per share on Series C Preferred Shares; a dividend of $0.3125 per share on Series E Preferred Shares; and a dividend of $0.296875 per share on Series G Preferred Shares; The dividend will be paid on September 30, 2015 to shareholders of record on September 16, 2015. The ex-dividend date is September 14, 2015. The company reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, revenue was $416 million against $471 million last year. Net revenue was $204 million against $220 million last year. Normalized operating income was $54 million against $64 million last year. Net additions to property, plant and equipment were $143 million against $132 million last year. Normalized EBITDA was $107 million or $0.79 per share against $107 million or $0.87 per share last year. Normalized net income was $9 million or $0.07 per diluted share against $27 million or $0.22 per diluted share last year. Net loss per basic and diluted share was $0.16 against net earnings per basic and diluted share $0.23 per share last year. Normalized funds from operations were $68 million or $0.50 per share against $106 million or $0.86 per share last year. Net loss applicable to common shares was $22 million against net income of $29 million for the same period in the last year. The net loss was primarily the result of the recent increase in Alberta's corporate tax rate which impacted net income by $14 million, and unrealized after tax losses of $17 million related primarily to Alberta power hedges. In the quarter, maintenance CapEx was approximately $11 million, including $7 million related to the turnarounds, which is amortized over 3 years until the next planned turnaround. For the six months, revenues were $1,161 million against $1,295 million last year. Net revenue was $512 million against $516 million last year. Normalized operating income was $179 million against $202 million last year. Net additions to property, plant and equipment were $253 million against $220 million last year. Normalized EBITDA was $284 million or $2.10 per share against $287 million or $2.33 per share last year. Normalized net income was $66 million or $0.49 per share against $101 million or $0.82 per share last year. Net income per basic and diluted share was $0.33 against $0.55 per share last year. Normalized funds from operations were $208 million or $1.54 per share against $238 million or $1.93 per share last year. Net income applicable to common shares was $44 million against $69 million for the same period in the last year. The decrease of normalized funds from operations was primarily due to the discretionary timing of dividend payments from Petrogas. Net income was primarily impacted by the recent increase in Alberta's corporate tax rate and by unrealized losses on Alberta power hedges. The company provided capital expenditure guidance for the full year of 2015 and earnings guidance for the second half of 2015. For the full year 2015, the company expects capital expenditure to be in the range of $600 million to $700 million. The company expects a stronger second half of 2015. Overall, the company expects EBITDA to be 10% to 15% higher than 2014.

AltaGas Ltd. Announce Executive Changes

AltaGas Ltd. announced that Deborah S. Stein has notified AltaGas of her intention to retire on March 31, 2016 after 11 years of dedicated service. The company also announced that Tim Watson will be appointed Executive Vice President and Chief Financial Officer, effective November 1, 2015. As part of the transition plan, Ms. Stein will step down as Senior Vice President Finance and Chief Financial Officer effective October 31, 2015 and assume the new role of Executive Vice President until her retirement. Tim Watson joined AltaGas in March 2015 as Executive Vice President and has been leading business development initiatives. Previously he was with Bank of America Merrill Lynch where he held the position of Head and Managing Director, Canadian Energy and Power Investment Banking.

 

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Industry Analysis

ATGFF

Industry Average

Valuation ATGFF Industry Range
Price/Earnings 64.9x
Price/Sales 2.0x
Price/Book 1.7x
Price/Cash Flow 15.5x
TEV/Sales 0.1x
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