This utility offers you income and growth

Article Excerpt

AltaGas took on a lot of risk with a huge acquisition in July 2018. But it stuck to its promise of selling non-core assets to pay down a lot of the debt it took on; the stable, regulated cash flows it gained have paid off. We picked the stock for our readers in our May 2019 issue, and the shares have handed them a solid 43% gain on top of a high yield. We still believe in this leader’s strong prospects and its outlook. It’s a Power Buy. ALTAGAS LTD. $26.01, is a Power Buy. The utility (Toronto symbol ALA; TSINetwork Rating: Extra Risk) (www.altagas.ca; Shares o/s: 280.1 million; Market cap: $7.3 billion; Divd. yield: 3.8%) processes, transports, stores and markets natural gas for producers. It also operates natural gas utilities and is a power generator, with gas-fired, coal-fired, wind, biomass and hydroelectric plants. In December 2020, AltaGas paid $715 million in cash to more than double its ownership share of Petrogas…