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United States

AltaGas Ltd (ALA.TO)

ALA.TO on Toronto Stock Exchange

30.88CAD
24 Mar 2017
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Latest Key Developments (Source: Significant Developments)

Altagas Q4 adjusted FFO per share C$1.04
Thursday, 23 Feb 2017 08:04am EST 

Altagas Ltd : Altagas Ltd reports 2016 fourth quarter and year end results . Q4 adjusted FFO per share C$1.04 . Altagas Ltd says expects to deliver approximately high single digit percentage normalized EBITDA growth in 2017 compared to 2016 . Altagas Ltd - qtrly revenue $661 mln versus $580 million . Altagas Ltd- power and utilities segments are expected to generate approximately 75 percent of 2017 normalized EBITDA . Q4 revenue view C$620.5 million -- Thomson Reuters I/B/E/S . Q4 FFO per share view C$0.90 -- Thomson Reuters I/B/E/S . Sees normal seasonal weather in 2017 compared to unfavorable weather in 2016 . Ridley Island propane export terminal construction expected to begin in Q1 of 2017 . Altagas Ltd - expects capital expenditures in range of $550 to $650 million for 2017 .Altagas Ltd- normalized funds from operations are also expected to increase by approximately high single digit percentage growth for 2017.  Full Article

ALTAGAS LTD ANNOUNCES $200 MLN PREFERRED SHARE OFFERING
Monday, 13 Feb 2017 09:39am EST 

Altagas Ltd : ALTAGAS LTD. ANNOUNCES $200 MILLION PREFERRED SHARE OFFERING . WILL ISSUE 8 MILLION CUMULATIVE 5-YEAR MINIMUM RATE RESET REDEEMABLE PREFERRED SHARES, SERIES K .NET PROCEEDS FROM OFFERING WILL BE USED TO REDUCE EXISTING INDEBTEDNESS.  Full Article

Altagas to acquire WGL Holdings in C$8.4 bln deal
Wednesday, 25 Jan 2017 04:47pm EST 

Altagas Ltd : To acquire WGL Holdings Inc in C$8.4 billion transaction . Says under terms of transaction, WGL shareholders will receive US$88.25 in cash per WGL share . Will relocate headquarters of its U.S. power business to WGL Holdings Inc's service region . Says upon closing of acquisition, Altagas Ltd will have approximately c$22 billion of high quality, low risk, long-lived assets . Altagas Ltd says boards of directors of Altagas and WGL have unanimously approved transaction, which is expected to close by end of Q2 of 2018 . Altagas Ltd - transaction represents a total enterprise value of c$8.4 billion, including assumption of approximately c$2.4 billion of debt . Altagas - EPS accretion of about 7-9 percent with normalized funds ffo accretion of over 20 percent in first full year of operations after deal . Altagas ltd - target of 8-10 percent annual dividend growth through 2021, while reducing altagas ltd.'s dividend payout ratios . Altagas ltd - transaction is not subject to any financing contingency and altagas has a fully committed US$4.95 billion bridge financing facility for deal . Altagas ltd - permanent financing of deal expected to be achieved through approximate $400 million private placement of subscription receipts to omers.  Full Article

Altagas Ltd announces $2.5 billion subscription receipt offering
Wednesday, 25 Jan 2017 04:40pm EST 

Altagas Ltd - : Altagas Ltd announces $2.5 billion subscription receipt offering comprised of $2.1 billion bought deal and $400 million private placement . Says to issue 67.8 million subscription receipts, on a bought deal basis, at an issue price of $31.00 per subscription receipt .Net proceeds from public offering, private placement will be used to partially finance $8.4 billion acquisition of WGL holdings.  Full Article

AltaGas announces positive FID on Canada's west coast propane export terminal
Tuesday, 3 Jan 2017 05:25pm EST 

AltaGas Ltd : AltaGas announces positive FID on Canada's first West Coast propane export terminal . AltaGas Ltd - executed long-term agreements securing land tenure along with rail and marine infrastructure on Ridley Island . AltaGas Ltd says will proceed with construction, ownership and operation of Ridley export terminal . AltaGas Ltd -Ridley export terminal will be designed to ship 1.2 million tonnes of propane per year and is estimated to cost approximately $450 - $500 million . AltaGas Ltd - along with FID, AltaGas will be offering a third party option to take an equity position of up to 30 percent in Ridley export terminal . AltaGas - expects to underpin at least 40 percent of Ridley export terminal throughput under tolling arrangements with producers and other suppliers . AltaGas - Ridley export terminal will be designed to ship 1.2 million tonnes of propane per year and is estimated to cost approximately $450 - $500 million .AltaGas Ltd - AltaGas will be offering a third party option to take an equity position of up to 30 percent in Ridley export terminal.  Full Article

Altagas gets regulatory approval to double size of Townsend facility
Thursday, 22 Dec 2016 08:15am EST 

Altagas Ltd : Estimated cost of Townsend phase 2 will be approximately $85 to $95 million . 2017 capital program is expected to be in range of approximately $500 - $550 million . Start-Up of its Pomona battery storage project on-time and on-budget . Altagas receives regulatory approval to double size of Townsend facility .In 2016, Altagas' expects total capital spend to be approximately $550 million.  Full Article

Altagas awarded 10 year contract to provide battery storage at Pomona
Tuesday, 16 Aug 2016 08:45am EDT 

Altagas Ltd : awarded 10 year contract to provide battery storage at Pomona . Project is expected to cost between U.S.$40 million to $45 million .Through unit, has signed agreement with Southern California Edison for 20 megawatts of energy storage at Pomona facility.  Full Article

Altagas Q2 adjusted FFO per share C$0.75
Thursday, 21 Jul 2016 07:45am EDT 

Altagas Ltd : Increased share dividend by $0.01/share per month to $2.10/share annualized beginning with September 15, 2015 payment, 6.1 percent increase . Continues to expect to deliver overall normalized ebitda growth of approximately 20 percent in 2016 compared to 2015 . Altagas continues to expect normalized funds from operations to grow by up to approximately 15 percent in 2016 . Non-utility workforce restructuring completed in June expected to reduce operating, administrative expenses by about $7 million on annualized basis . Liquids separation facility is expected to cost approximately $60 to $80 million . Altagas ltd. reports strong second quarter results and increases dividend 6.1 percent . Q2 adjusted FFO per share C$0.75 . In June, completed restructuring reducing non-utility workforce by about 10 percent;total pre-tax restructuring costs incurred were about $7 million . Expects to receive permits, reach final investment decision in 2016,operations to begin in first half of 2018 .In early stages of development of a liquids separation facility which will serve producers in deep basin region of northwest Alberta.  Full Article

AltaGas says Co and Halfway River First Nation sign relationship agreement
Thursday, 14 Jul 2016 12:20pm EDT 

Altagas Ltd:AltaGas Ltd - AltaGas Ltd and Halfway River First Nation signed a comprehensive relationship agreement.  Full Article

AltaGas Ltd. announces $400 million common share offering
Thursday, 26 May 2016 03:26pm EDT 

Altagas Ltd : AltaGas Ltd. announces $400 million common share offering . Net proceeds resulting from offering will be used to partially fund AltaGas' capital growth program .Agreement with underwriters issue 13.4 million common shares on a bought deal basis, at an issue price of $30.00 per common share.  Full Article

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BRIEF-Altagas Q4 adjusted FFO per share C$1.04

* Altagas Ltd reports 2016 fourth quarter and year end results