Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Canada
  4. Toronto Stock Exchange
  5. AltaGas Ltd.
  6. News
  7. Summary
    ALA   CA0213611001

ALTAGAS LTD.

(ALA)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Panel favors Equitrans in EQT PA-WV Hammerhead natgas pipe dispute

10/26/2021 | 01:16pm EST

Oct 26 (Reuters) - U.S. pipeline company Equitrans Midstream Corp said on Tuesday that an arbitration panel ruled in its favor in a dispute with EQT Corp over the delayed startup of the Hammerhead natural gas pipe in Pennsylvania and West Virginia.

Hammerhead is a gathering pipeline designed to feed about 1.6 billion cubic feet per day (bcfd) of gas into the Mountain Valley pipe once that long-delayed project enters service.

Equitrans said the 2.0-bcfd Mountain Valley pipe from West Virginia to Virginia was on track to enter service in the summer of 2022 at a cost of around $6.2 billion.

Equitrans has said Hammerhead cost about $555 million to build. EQT, the biggest U.S. gas producer and former parent of Equitrans, has a contract to transport about 1.2 bcfd on Hammerhead.

In a filing with the U.S. Securities and Exchange Commission, Equitrans said the arbitration panel determined the in-service delay for Hammerhead was caused by a force majeure.

Hence, EQT has no early termination right under the Hammerhead agreement or related right to purchase the Hammerhead project, according to the Equitrans filing.

"We are pleased with the panel’s unanimous decision (and) look forward to continuing our long-standing partnership with EQT," Equitrans spokesperson Natalie Cox said in an email, noting Hammerhead has been "ready and waiting" for the completion of Mountain Valley.

EQT said in an email that it was "disappointed" but appreciates "having a resolution to this dispute."

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

When Mountain Valley started construction in February 2018, it estimated the 303-mile project would cost about $3.5 billion and enter service by late 2018.

Mountain Valley is owned by units of Equitrans, which has a 47.8%-interest in the project and will operate the pipeline, NextEra Energy, Consolidated Edison, AltaGas and RGC Resources.

(Reporting by Scott DiSavino; Editing by David Gregorio)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALTAGAS LTD. 0.53% 24.5 Delayed Quote.30.88%
RGC RESOURCES, INC. -2.87% 23.7 Delayed Quote.2.61%
All news about ALTAGAS LTD.
12/03AltaGas raising dividend six per cent, moving to quarterly payments from monthly
AQ
12/03AltaGas Details 6% Dividend Increase and Adoption of a Quarterly Payment Schedule
MT
12/03ALTAGAS BRIEF : Details 6% Dividend Increase and Adoption of a Quarterly Payment Schedule
MT
12/03AltaGas Announces 6% Dividend Increase and Adoption of a Quarterly Payment Schedule
AQ
11/30ALTAGAS : TO HOST 2021 Investor day - Form 6-K
PU
11/29AltaGas to Host 2021 Investor Day
AQ
11/29DBRS Discontinues, Withdraws AltaGas Ratings
MT
11/24ALTAGAS LTD. : Ex-dividend day for
FA
11/23ALTAGAS BRIEF : Upgraded To Overweight From Neutral With $30 Price Target at JPMorgan On P..
MT
11/19Credit Suisse Notes Infrastructure Impacts From British Columbia Severe Rainfall
MT
More news
Analyst Recommendations on ALTAGAS LTD.
More recommendations
Financials
Sales 2021 9 084 M 7 068 M 7 068 M
Net income 2021 558 M 434 M 434 M
Net Debt 2021 7 987 M 6 214 M 6 214 M
P/E ratio 2021 13,6x
Yield 2021 4,08%
Capitalization 6 864 M 5 361 M 5 340 M
EV / Sales 2021 1,63x
EV / Sales 2022 1,87x
Nbr of Employees 2 984
Free-Float 94,4%
Chart ALTAGAS LTD.
Duration : Period :
AltaGas Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ALTAGAS LTD.
Short TermMid-TermLong Term
TrendsBearishBearishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Last Close Price 24,50 CAD
Average target price 30,00 CAD
Spread / Average Target 22,4%
EPS Revisions
Managers and Directors
Randall L. Crawford President, Chief Executive Officer & Director
D. James Harbilas Chief Financial Officer & Executive Vice President
Pentti O. Karkkainen Chairman
Corine R. K. Bushfield Chief Administrative Officer & Executive VP
David Wallace Cornhill Independent Director
Sector and Competitors
1st jan.Capi. (M$)
ALTAGAS LTD.30.88%5 361
NATURGY ENERGY GROUP, S.A.29.22%26 575
ATMOS ENERGY CORPORATION-2.80%12 284
CHINA GAS HOLDINGS LIMITED-53.77%10 029
PETRONAS GAS BERHAD-2.44%7 839
APA GROUP-2.28%7 812