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Opinions Genevieve Roch-Decter
Altagas LtdALA.TOPAST TOP PICKApr 07, 2015
Stock price when the opinion was issued
As of Jun 19, 2026. Market Open.
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Good growth. Trucking right along. Wouldn't buy at these levels. Yield is 4.2%, growing at 6% per year.
Ryan BushellNeed to consider anticipated EPS growth rate. In the utility space, ALA is the clear winner on PE and price to growth.
Greg NewmanStrong commodity tailwinds and utility growth. Balance sheet improving. Still cheap around 12x 2025, growth rate around 11%. Nice annual dividend growth. Very boring, but it works.
Greg Newman
Balance sheet very strong. Seeing growth in utilities. Lots of low capital/high return mid stream opportunities. Recent acquisition of Pipestone from Tidewater. Currently trading at historically good valuation. Growing dividend that is reliable. Has commodity tailwinds. Interest rates leveling out.
Greg Newman
Continues to de-risk balance sheet. Growing global export margins. Low cost of capital, high returns. Acquisition looks high quality, synergistic. Low 11x valuation, growing at 11%. Sees dividend growing at 5%. Commodity tailwinds of more robust global exports plus nat gas price. Yield is 4.34%.
(Analysts’ price target is $32.00)Greg NewmanM&A acquisitions performing 3-4 years later.
4 years of dividend increases.
One of largest positions.
Debt falling down to better levels.
Midstream assets performing well.
New CEO also bringing credibility.
Ryan BushellDerisking balance sheet. Very strong utility growth. Lots of low-capital, high-return, midstream growth opportunities. Low valuation of 11x, with a 10.7% growth rate. Risk profile of a utility with the upside of LNG. Building out global exports is a key theme. Nice yield of 4.33%, growing around 5%.
(Analysts’ price target is $31.79)Greg NewmanHas owned this for a long time. He added in the past year when shares were in the dumps, and has seen a nice upside in the past year as it pays a nice 4.5% dividend. Recent earnings were decent and they're paying down debt. They had a favourable ruling in the U.S. over a pipeline. Selling an asset will accelerate debt repayments. Buy a half position and do the DRIP. You don't have to be bullish in natural gas to buy this, not as much. The technicals show nat gas is basing nicely. ALA collects a toll of whatever flows through their pipeline, but of course the more volume the better
(Analysts’ price target is $31.79)Recent earnings report was strong.
Dividend is safe - very good at coverage.
Defensive name with utilities style business.
Current share price good time to buy.
Forest fires tough on business, but overall a good business.
Higher interest rates weigh on cost of capital - but not overwhelming concern.
Had a strong Q1 and showing progress in de-risking global exports. LNG growth and strong utility growth. Low capital yet high return midstream. He expects 9.5% growth and trades at a reasonable 10.2x PE. Pays a nearly 5% dividend. Unfairly ignored by dividends. Higher interest rates have chased money away while money has poured into the FAANGs.
(Analysts’ price target is $31.15)Greg Newman
(A Top Pick April 4/14. Down 2.34%.) This continues to be a core holding. Have a really defensive business model in a low commodity price environment. Only about 10% of their EBITDA is exposed directly to commodity prices. The other 90% is contracted or regulated assets. They have a number of catalysts that could come out this year that will be positive for the share price including a final investment decision on their LNG project in BC, more announcements on their LPG exports to Asia and their natural gas plant in California is looking at an expansion. Have been growing their dividend and she thinks there is still dividend growth to come. They have about $1.5 billion committed to capital growth in the next 3 years. A very good balanced diversified asset base, a 3rd in utilities, a 3rd in natural gas processing and a 3rd power generation. Long-term, good holds in a good quality company.