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

ALTAGAS LTD.

(ALA)
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Delayed Quote. Delayed Toronto Stock Exchange - 10/29 04:00:00 pm
17.13 CAD   +3.57%
06:25aALTAGAS : Announces Third Quarter Results
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06:01aALTAGAS : Announces Third Quarter Results
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10/23ALTAGAS LTD. : Ex-dividend day for
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Equitrans confirms early 2021 startup for Mountain Valley natural gas pipeline

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08/04/2020 | 09:17am EDT

U.S. pipeline company Equitrans Midstream Corp said on Tuesday it still expects to complete the $5.4 billion Mountain Valley natural gas pipeline from West Virginia to Virginia in early 2021.

Mountain Valley is one of several U.S. oil and gas pipelines delayed by regulatory and legal fights with environmental and local groups that found problems with federal permits issued by the Trump administration.

Other projects similarly held up include TC Energy Corp's $8 billion Keystone XL crude pipeline and Energy Transfer LP's Dakota Access crude pipeline, which are still involved in court battles.

Equitrans said in its second-quarter earnings statement that the project's costs could rise by 5% to around $5.7 billion if it needs "to adapt the construction plan for potential complex judicial decisions and regulatory changes."

When Equitrans started construction in February 2018, it estimated Mountain Valley would cost about $3.5 billion and be completed by the end of 2018. But successful legal challenges to federal permits resulted in lengthy delays and higher costs for Mountain Valley.

Equitrans said it expects to receive new approvals soon from the U.S. Fish and Wildlife Service, the U.S. Federal Energy Regulatory Commission and the U.S. Army Corps of Engineers that will enable it to finish building the last 8% of the project.

The 303-mile (488-km) pipeline is designed to deliver 2 billion cubic feet per day from the Marcellus and Utica shale in Pennsylvania, Ohio and West Virginia to consumers in the Mid Atlantic and Southeast.

Mountain Valley is owned by units of Equitrans, NextEra Energy Inc, Consolidated Edison Inc, AltaGas Ltd and RGC Resources Inc.

(Reporting By Scott DiSavino; Editing by Steve Orlofsky)


Stocks mentioned in the article
ChangeLast1st jan.
ALTAGAS LTD. 3.57% 17.13 Delayed Quote.-13.40%
CONSOLIDATED EDISON, INC. -0.49% 79.77 Delayed Quote.-11.83%
EQUITRANS MIDSTREAM CORPORATION -1.49% 7.28 Delayed Quote.-45.51%
LONDON BRENT OIL 2.12% 38.48 Delayed Quote.-38.33%
NEXTERA ENERGY -0.60% 74.01 Delayed Quote.22.25%
RGC RESOURCES, INC. 0.00% 23.77 Delayed Quote.-16.83%
TC ENERGY CORPORATION -1.09% 52.82 Delayed Quote.-23.63%
WTI 0.51% 36.375 Delayed Quote.-36.69%
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All news about ALTAGAS LTD.
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Financials
Sales 2020 5 017 M 3 756 M 3 756 M
Net income 2020 622 M 466 M 466 M
Net Debt 2020 7 603 M 5 691 M 5 691 M
P/E ratio 2020 7,84x
Yield 2020 5,82%
Capitalization 4 622 M 3 472 M 3 460 M
EV / Sales 2020 2,44x
EV / Sales 2021 2,09x
Nbr of Employees 2 801
Free-Float 94,8%
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Technical analysis trends ALTAGAS LTD.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Average target price 20,87 CAD
Last Close Price 16,54 CAD
Spread / Highest target 39,1%
Spread / Average Target 26,2%
Spread / Lowest Target 14,9%
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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