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    ALA   CA0213611001

ALTAGAS LTD.

(ALA)
  Report
Delayed Quote. Delayed Toronto Stock Exchange - 06/18 04:00:00 pm
25.8 CAD   +1.18%
06/11ALTAGASá : ANNOUNCES MONTHLY DIVIDEND (Form 6-K)
PU
06/10ALTAGAS LTD.á : Announces Monthly Dividend
AQ
05/21ALTAGAS LTD. : Ex-dividend day for
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

AltaGas to buy WGL in C$8.4 billion deal in gas distribution push

01/25/2017 | 06:21pm EDT

(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)


ę Reuters 2017
Stocks mentioned in the article
ChangeLast1st jan.
ALTAGAS LTD. 1.18% 25.8 Delayed Quote.37.82%
DOMINION ENERGY, INC. -2.55% 74.82 Delayed Quote.-0.51%
DUKE ENERGY CORPORATION -2.74% 99.61 Delayed Quote.8.79%
LETS HOLDINGS GROUP CO., LTD. -1.79% 7.12 End-of-day quote.-8.48%
THE GOLDMAN SACHS GROUP, INC. -3.50% 348.83 Delayed Quote.32.28%
THE LEAD CO., INC. -8.47% 746 End-of-day quote.-11.19%
All news about ALTAGAS LTD.
06/11ALTAGASá : ANNOUNCES MONTHLY DIVIDEND (Form 6-K)
PU
06/10ALTAGAS LTD.á : Announces Monthly Dividend
AQ
05/21ALTAGAS LTD. : Ex-dividend day for
FA
04/30ALTAGASá : Announces Election of Directors
AQ
04/30North Carolina again denies permit for Mountain Valley gas pipe extension
RE
04/29ALTAGASá : Posts Higher Q1 Net Income Year over Year, Lifts 2021 Financial Guida..
MT
04/29ALTAGAS BRIEF : Increases 2021 Financial Guidance Ranges
MT
04/29ALTAGAS BRIEF : Q1 EPS C$1.29 Vs Forecast EPS Normalized 0.95 and Last Year 0.79
MT
04/29ALTAGASá : Earnings Flash (ALA.TO) ALTAGAS Reports Q1 Normalized EPS $1.29
MT
04/29ALTAGASá : Announces Strong First Quarter Results and Increases 2021 Guidance
AQ
More news
Financials
Sales 2021 6 541 M 5 248 M 5 248 M
Net income 2021 543 M 436 M 436 M
Net Debt 2021 7 856 M 6 303 M 6 303 M
P/E ratio 2021 14,9x
Yield 2021 3,88%
Capitalization 7 217 M 5 785 M 5 790 M
EV / Sales 2021 2,30x
EV / Sales 2022 2,24x
Nbr of Employees 2 984
Free-Float 94,4%
Chart ALTAGAS LTD.
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Technical analysis trends ALTAGAS LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Average target price 26,43 CAD
Last Close Price 25,80 CAD
Spread / Highest target 20,2%
Spread / Average Target 2,45%
Spread / Lowest Target -5,04%
EPS Revisions
Managers and Directors
NameTitle
Randall L. Crawford President, Chief Executive Officer & Director
D. James Harbilas Chief Financial Officer & Executive Vice President
Pentti O. Karkkainen Chairman
Corine R. K. Bushfield Chief Administrative Officer & Executive VP
David Wallace Cornhill Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
ALTAGAS LTD.37.82%5 785
NATURGY ENERGY GROUP, S.A.15.51%24 949
CHINA GAS HOLDINGS LIMITED-23.70%16 902
ATMOS ENERGY CORPORATION2.57%12 790
GAIL (INDIA) LIMITED25.80%9 284
TOKYO GAS CO.,LTD.-10.17%8 537