Friday, May 29, 2015

AltaGas Ltd. - ALA.t

AltaGas Ltd. - ALA.t is a geographically diverse energy infrastructure company comprised of three distinct business units: Gas, Power and Utilities.

The Gas business gathers, processes, transports, stores and markets natural gas and natural gas liquids. The Power business is comprised of 932 MW of conventional power and 440* MW of renewable power. AltaGas owns and operates utilities in Alberta, British Columbia, Nova Scotia, Michigan and Alaska that safely and reliably serve nearly 550,000 customers across North America.


On April 30, 2015 the company released numbers

 Increased dividend by $0.0125 per share per month ($1.92 per share annualized) beginning with the June 15, 2015 payment;
 $178 million in normalized EBITDA;
 $140 million in normalized funds from operations;
 $57 million in normalized net income;
 Strong operating results from Forrest Kerr and Volcano Creek; and
 McLymont Creek nears completion.

AltaGas Ltd. ("AltaGas") (TSX:ALA) today reported first quarter normalized EBITDA of $178 million, compared to $179 million in the same period 2014. Normalized funds from operations were $140 million ($1.05 per share) for the first quarter 2015, compared to $132 million ($1.07 per share) in the same period 2014. Normalized net income was $57 million ($0.43 per share), compared to $74 million ($0.60 per share) in first quarter 2014. "Throughout the quarter we faced one of the weakest energy environments we have ever seen, including the lowest power prices in Alberta since deregulation. Despite this, we still delivered on cash flow growth driven by our diverse infrastructure assets,” said David Cornhill, Chairman and CEO of AltaGas. “Our Forrest Kerr and Volcano Creek hydroelectric facilities performed better than expected in the quarter and with the addition of McLymont Creek mid-year we expect significant growth in cash flow in 2015 and 2016. Our dividend increase underscores our commitment to creating shareholder value.”