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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  AltaGas Ltd.    ALA   CA0213611001

ALTAGAS LTD.

(ALA)
  Report
Delayed Quote. Delayed Toronto Stock Exchange - 11/26 04:00:00 pm
18.83 CAD   --.--%
11/26ALTAGAS LTD. : Announces Aggregate $700 Million Medium Term Note Offerings
AQ
11/25ALTAGAS LTD. : Announces Aggregate $700 Million Medium Term Note Offerings
AQ
11/24ALTAGAS LTD. : Ex-dividend day for
FA
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AltaGas to buy WGL in C$8.4 billion deal in gas distribution push

01/25/2017 | 06:21pm EST

(Reuters) - Canadian energy infrastructure company AltaGas Ltd (>> Altagas Ltd) said it would buy U.S.-based WGL Holdings Inc (>> WGL Holdings Inc) in a deal valued at C$8.4 billion ($6.42 billion), the latest company pushing deeper into natural gas distribution.

(Reuters) - Canadian energy infrastructure company AltaGas Ltd (>> Altagas Ltd) said it would buy U.S.-based WGL Holdings Inc (>> WGL Holdings Inc) in a deal valued at C$8.4 billion ($6.42 billion), the latest company pushing deeper into natural gas distribution.

AltaGas will offer WGL Holdings shareholders $88.25 per share held, a 12 percent premium to the stock's Wednesday close.

WGL Holdings's shares were trading at $81.60 in after-market trading.

WGL Holdings, the parent of natural-gas utility Washington Gas, provides natural gas services in Maryland, Virginia and the District of Columbia.

The company also has a retail energy-marketing business and operates natural-gas distribution facilities.

AltaGas's deal for WGL follows Dominion Resources Inc's (>> Dominion Resources, Inc.) $4.4 billion buyout of Questar Corp <STR.N> last year.

Duke Energy Corp (>> Duke Energy Corp), the largest U.S. power company by generation capacity, said in 2015 it would buy Piedmont Natural Gas Co (>> Piedmont Natural Gas Company, Inc.) for $4.9 billion.

Energy firms are betting on natural gas distribution, given rising demand from homes and businesses, and to help offset shrinking profits at utility businesses due to waning power demand.

Calgary-based AltaGas, which operates in the United States and Canada, has three businesses - natural gas gathering and processing, power generation and utilities that deliver natural gas to homes and businesses.

AltaGas said on Wednesday the deal, which includes the assumption of about C$2.4 billion of debt, would add about 7-9 percent to earnings per common share in the first full year of operations.

The company said it expected the transaction to close by the end of the second quarter of 2018.

The Wall Street Journal reported earlier this month, citing sources, that AltaGas was is in talks to merge with WGL Holdings.

J.P. Morgan Securities LLC is the lead financial adviser to AltaGas, while TD Securities Inc is also providing financial advice to the company.

Goldman Sachs and Lazard are the financial advisers to WGL.

(Reporting by Komal Khettry in Bengaluru; Editing by Saumyadeb Chakrabarty and Sriraj Kalluvila)


© Reuters 2017
Stocks mentioned in the article
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ALTAGAS LTD. 0.00% 18.83 Delayed Quote.-4.80%
DOMINION ENERGY, INC. 0.04% 79.41 Delayed Quote.-4.12%
DUKE ENERGY CORPORATION -0.11% 96.15 Delayed Quote.5.42%
LETS HOLDINGS GROUP CO., LTD. 1.30% 9.36 End-of-day quote.54.97%
LINE CORPORATION 0.19% 5380 End-of-day quote.0.56%
THE GOLDMAN SACHS GROUP, INC. -0.40% 236.54 Delayed Quote.2.87%
THE LEAD CO., INC. 65.68% 1009 End-of-day quote.158.72%
All news about ALTAGAS LTD.
11/26ALTAGAS LTD. : Announces Aggregate $700 Million Medium Term Note Offerings
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11/25ALTAGAS LTD. : Announces Aggregate $700 Million Medium Term Note Offerings
AQ
11/24ALTAGAS LTD. : Ex-dividend day for
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11/23ALTAGAS : Announces Intention to Redeem All Outstanding Series I Preferred Share..
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11/20ALTAGAS : Announces Intention to Redeem All Outstanding Series I Preferred Share..
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11/19U.S. court allows Equitrans to keep building Mountain Valley natgas pipe
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11/03ALTAGAS : Q3 2020 Conference Call Transcript
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10/30ALTAGAS : Announces Third Quarter Results
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10/29ALTAGAS : Announces Third Quarter Results
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10/29ALTAGAS : Announces Third Quarter Results
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More news
Financials
Sales 2020 5 214 M 4 004 M 4 004 M
Net income 2020 605 M 465 M 465 M
Net Debt 2020 7 738 M 5 942 M 5 942 M
P/E ratio 2020 9,05x
Yield 2020 5,10%
Capitalization 5 262 M 4 043 M 4 041 M
EV / Sales 2020 2,49x
EV / Sales 2021 2,25x
Nbr of Employees 2 801
Free-Float 94,4%
Chart ALTAGAS LTD.
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Technical analysis trends ALTAGAS LTD.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 14
Average target price 21,36 CAD
Last Close Price 18,83 CAD
Spread / Highest target 22,1%
Spread / Average Target 13,4%
Spread / Lowest Target 6,21%
EPS Revisions
Managers
NameTitle
Randall L. Crawford President, Chief Executive Officer & Director
Pentti O. Karkkainen Chairman
D. James Harbilas Chief Financial Officer & Executive Vice President
David Wallace Cornhill Independent Director
Allan L. Edgeworth Independent Director
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