AltaGas Ltd.

AltaGas Ltd.

AltaGas Ltd.

Overview
Date Founded

1993

Headquarters

355-4th Avenue SW,Suite 1700,Calgary, AB T2P 0J1

Type of Company

Public

Employees (Worldwide)

1,629

Industries

Oil & Gas
Power & Utilities

Company Description

AltaGas is a geographically diverse energy infrastructure company comprised of three distinct business units: Gas, Power and Utilities. The Gas business gathers, processes, transports, stores and markets natural gas and natural gas liquids, touching more than 2 Bcf/d of natural gas in Canada. AltaGas’ existing power portfolio comprises 407 MW of conventional and 148 MW of renewable power such as wind, run-of-river hydro, biomass, and waste heat recovery. We have natural gas distribution utilities in Alberta, British Columbia, Nova Scotia, and the Northwest Territories, and serve more than 115,000 customers. With the $1.135 billion SEMCO acquisition, AltaGas’ utilities will serve an additional 418,000 customers in Michigan and Alaska. AltaGas also has a pipeline of exciting projects across all businesses, with a plan to spend $2 billion in organic growth by 2015. These new assets are expected to increase EBITDA by 160 percent.

Executives & Employees

Founder

Interim Co-Chief Executive Officer

Chief Financial Officer & Executive Vice President

Chief Legal Officer, Executive Vice President & General Counsel

Executive Vice President & Chief Administrative Officer

President-Gas

Executive Vice President

Director-Finance & Communications

Director

Professional

Board of Directors

Counsel at Borden Ladner Gervais LLP

Director at AltaGas Ltd.

Interim Co-Chief Executive Officer at AltaGas Ltd.

Former Chief Financial Officer at Pengrowth Corp.

Director at Connaught Oil & Gas Ltd.

Former President & Chief Executive Officer at Alliance Pipeline LP

Former Chief Financial Officer & Executive Vice President-Risk Management at Calgary Health Region

Former Chief Operating Officer & Director at Transalta Renewables, Inc.

Professional at The National Petroleum Council

Professor at Mount Royal University

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Owners & Shareholders
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QV Investors (QVI) manages several pooled investment funds with varying objectives in order to meet clients' varying needs. The QV Funds are the models for the firm's bond, balanced and equity strategies.The Canadian Income Fund seeks to provide investors steady income, earned in Canadian dollars, with low risk to principal. The Fund invests in Canadian high or investment grade bonds and debentures, and to a lesser extent in corporate preferred and common shares. The bonds mature within 5 years. The benchmark is the FTSE TMX Short Term Bond Index.The Canadian Bond Fund seeks to provide investors with interest income and moderate capital appreciation over the long-term. The fund invests in investment grade Canadian fixed income securities, and does not hold preferred shares or equities. It may also invest in longer-term bonds and hold a larger exposure to corporate bonds and non-rated bonds. The benchmark is the FTSE TMX Canada Universe Bond Index.The Canadian Balanced Fund seeks to equal or exceed the average annual return on equity of Canadian companies. Canadian companies. The asset mix methodology is to weight by yield the asset class having the greatest surety. Equities are selected to reduce valuation, growth, credit, liquidity, and industry risks. Bonds are selected for their high quality and ability to offset the volatility found in equities.The QV Canadian Equity Fund invests in larger companies, typically with market-cap over $1 billion and listed on the TSX. The Fund seeks to exceed the average annual return on equity of Canadian companies, and to exceed the return on the S&P/TSX Composite Index and do so with lower volatility. QVI constructs the Fund to exhibit measurably better value, growth, dividend, and credit characteristics than the benchmark while maintaining broad industry diversification.The Canadian Small Cap Equity Fund invests in Canadian small and mid-cap companies, with market-cap above $100 million and up to two times the upper end of the BMO Small Cap Index. The Fund seeks to exceed the average annual return on equity of Canadian companies, to exceed the return on the BMO Small Cap Index, and do so with lower volatility.The Global Equity Fund invests in companies listed outside of Canada on the world's senior markets. It seeks to outperform the MSCI World Index with lower volatility. The Fund focuses on companies with market-cap, greater than $5 billion. The portfolio offers broad equity, industry and regional diversification.

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Ninepoint Partners, dba SPR & Co., employs a variety equity investment strategies, including growth, core, and value, as well as blended portfolios. Most of their funds focus on specific ranges on the capitalization scale, from micro-capitalization, through small-capitalization and large-capitalization. Other funds focus on investment opportunities in more than one capitalization category or across all capitalization levels. In addition, SPR manages funds that are global, multi-national, or which focus on particular geographic regions or specific countries.SPR engages in fixed income strategies which invest in debt securities issued by governments and corporations. The debt securities may have varying maturity terms, credit worthiness, interest coupon, currency denomination, and other attributes which may affect the value of the debt securities.The firm engages in buy and hold investment strategies in which they buy securities and hold them for a relatively longer period of time, regardless of short-term factors such as fluctuations in the market or volatility of the stock price.SPR also engages in fundamental value investment strategies that invests in asset-oriented securities they believe are undervalued by the market.SPR offers global macro investment strategies which attempt to anticipate global macroeconomic events using discretionary selection.The firm employs capital growth investment strategies that seek to securities of companies whose earnings the firm expects to grow at an above-average rate compared to the company's specific industry or the overall market.SPR enters into derivatives transactions: (1) as a form of hedging to offset potential changes in securities which are similar to the underlying interest of the derivative, and (2) for profit. The firm engages in short selling strategies: (1) as a form of hedging to offset potential declines in long positions in similar securities, (2) in order to maintain flexibility, and, (3) for profit.SPR also engages in a long credit strategy for certain clients that primarily invests in senior secured asset-based loans.

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ATB Investment Management (ATBIM) manages the Compass Portfolio Series, a comprehensive series of strategic asset allocation models designed to meet investors' unique investment objectives and risk tolerances. A mix of asset classes within pre-determined ranges are maintained through regular rebalancing which serves to preserve the performance characteristics of the portfolio and meet investors' objectives within their time horizons and risk tolerances. The portfolio invests in multiple asset classes including stocks, bonds, near cash or money market instruments such as Treasury Bills, and in alternative investments including income trusts. The Compass Portfolio Series invests the majority of their assets in a mix of mutual funds, institutional pooled funds, ETFs and other pooled investment vehicles managed respected third-party investment management firms. The underlying investments of each portfolio are selected to achieve and add value to the asset allocation of the portfolio as a whole. Portfolios are further diversified by geography, management style, market sector, market-cap and investment manager. ATBIM seeks to provide superior risk-adjusted rates of return by minimizing volatility and maximizing long-term performance results.

Recent Transactions
Details Hidden

AltaGas Ltd. purchases Black Swan Energy Ltd. /Aitken Creek Processing Facilities from Black Swan Energy Ltd.

Details Hidden

purchases AltaGas Canada, Inc. from AltaGas Ltd.

Details Hidden

AltaGas Ltd. purchases WGL Holdings, Inc.

Transaction Advisors
Legal Advisor

Advised onAltaGas Ltd. issued Subscription Receipts

Underwriter

Advised onAltaGas Ltd. issued Subscription Receipts

Manager

Advised onAltaGas Ltd. issued Subscription Receipts

Manager

Advised onAltaGas Ltd. issued Common Stock

Manager

Advised onAltaGas Ltd. issued Common Stock

Managing Director, Investment Banking

Advised onAltaGas Ltd. issued Common Stock

Clients

Edison International is a renewable energy company, which through its subsidiaries, generates and distributes electric power, and invests in energy services and technologies.The company was founded on April 20, 1987 and is headquartered in Rosemead, CA.

Birchcliff Energy Ltd. engages in the exploration, development and production of oil and natural gas. It produces and sells light crude oil, natural gas and natural gas liquids. The company was founded by Myles R. Bosman, Gordon W. Cameron, Bruno P. Geremia, Laurence A. Shaw, Werner A. Siemens, James W. Surbey, and A. Jeffery Tonken on July 6, 2004 and is headquartered in Calgary, Canada.

Black Hills Corp. is a diversified energy company. It operates through the following business groups: Utilities and Non-Regulated Energy. The Utilities group is comprised of the company's Regulated Electric Utilities and Regulated Gas Utilities segments. The Non-Regulated Energy group is comprised of The Power Generation segment produces electric power from the company's generating plants and sells the electric capacity and energy primarily under long-term contracts, Oil & Gas, and Coal Mining. The Regulated Electric Utilities segment generates, transmits and distributes electricity to customers in South Dakota, Wyoming, Colorado and Montana and includes the operations of Cheyenne Light, a combination electric and gas utility. The Regulated Gas Utilities segment serves natural gas utility customers in Colorado, Nebraska, Iowa and Kansas. The Power Generation segment produces electric power from the company's generating plants and sells the electric capacity and energy primarily under long-term contracts. The Oil and Gas segment engages in the exploration, development and production of crude oil and natural gas, primarily in the Rocky Mountain region. The Coal Mining segment produces coal at the company's coal mine near Gillette, Wyoming. The company was founded in 1883 and is headquartered in Rapid City, SD.

Key Stats and Financials As of 2017
Market Capitalization
$4.23B
Total Enterprise Value
$9.85B
Earnings Per Share
$0.18
Revenue
$2.62B
Enterprise Value Sales
3.76x
Enterprise Value EBITDAOperating
18.19x
TEVNet Income
107.56x
Debt TEV
0.37x
EBITDAMargin
20.69%
Total Debt
$3.67B
Total Equity
$4.64B
Net Profit
$91.6M
EBITDA
$542M
Three Year Compounded Annual Growth Rate Of Revenue
2.93%
Five Year Compounded Annual Growth Rate Of Revenue
12.9%
Suppliers
Macro Enterprises, Inc. Oil & Gas | Fort St. John, BC

Macro Enterprises, Inc. engages in the provision of pipeline and facilities construction and maintenance services to oil, and gas industry. The company was founded on January 30, 2006 and is headquartered in Fort St. John, Canada.

Siemens AG Computer Software | Munich, BV

Siemens is a global powerhouse focusing on the areas of electrification, automation and digitalization. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of systems for power generation and transmission as well as medical diagnosis. In infrastructure and industry solutions the company plays a pioneering role. As of September 30, 2015, we had around 348,000 employees in more than 200 countries. In fiscal 2015, they generated revenues of €75.6 billion.

Vectren Corporation Power & Utilities | Evansville, IN

Vectren Corporation is an energy holding company headquartered in Evansville, Indiana. Vectren's energy delivery subsidiaries provide gas and/or electricity to more than one million customers in adjoining service territories that cover nearly two-thirds of Indiana and west central Ohio. Vectren's nonutility subsidiaries and affiliates currently offer energy-related products and services to customers throughout the U.S. These include infrastructure services, energy services, coal mining and energy marketing.

Competitors
Transalta Renewables, Inc. Power & Utilities - Calgary, AB

TransAlta Renewables, Inc. engages in the acquisition of renewable power generation facilities in operation or under construction. It operates through the following segments: Canadian Wind, Canadian Hydro, and Canadian Gas. The Canadian Wind segment includes the result of the Le Nordais facility. The Canadian Hydro segment comprises of the outcome of the Ragged Chute facility. The Canadian Gas segment involves output of the Sarnia facility. The company was founded on May 28, 2013 and is headquartered in Calgary, Canada.

Brookfield Renewable Partners LP Power & Utilities - Hamilton, HA

Brookfield Renewable Partners LP owns, operates and develops renewable power generation facilities. It operates through four segments: Hydroelectric; Wind; Solar, Storage & Other; and Corporate. The Hydroelectric segment provides facilities in the North America, Columbia, Europe, and Brazil. The Wind segment provides facilities in the North America, Brazil and Europe. The Solar, Storage & Other segment includes biomass and co-gen as well as, pumped storage facilities. The company was founded on June 27, 2011 and is headquartered in Hamilton, Bermuda.

Keyera Corp. Oil & Gas - Calgary, AB

Keyera is one of the largest independent natural gas and natural gas liquids midstream businesses in western Canada. Our operating businesses provide a range of gathering, processing, fractionation, storage, transportation and marketing services to the oil and gas industry. As a “midstream” business, Keyera is not engaged in exploration and production; rather we focus on providing essential services to producers and delivering natural gas liquids and other related products to key markets across North America. We provide these services through our two integrated business lines: Gathering and Processing, and the Liquids Business Unit. The Liquids Business Unit consists of the NGL Infrastructure and Marketing segments. Since 1998, Keyera has developed a strong reputation for our expertise in operating complex energy processing facilities safely and responsibly, in a manner that demonstrates respect for our employees and the communities we call home. We are committed to continuing our record of conducting our business ethically, safely and in an environmentally and financially responsible manner. Under the guidance of our dedicated management team, together with our experienced and innovative employees, we have proven our ability to deliver financial and operational results. We are very proud of our track record and plan to continue to pursue our goal of delivering steady value growth based on sustainable, competitive energy facilities.