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Rank AltaGas Preferreds

This compare tool allows you to Rank AltaGas Preferreds, based on the latest stock information available. Our goal is to provide you with the information and metrics related to the AltaGas preferreds. Your goal is to establish which preferred will provide you the best returns. If you are buying today, these tools will expedite and aid the selection process. Given all the data available here, an informed decision is within reach.

In a market with low volumes you can use this information to identify mispriced shares. Since all preferreds belong to the same issuer, the risk is the same for all of them.

AltaGas Brief Overview

Visit the AltaGas company website to see the preferred share prospectus, news and other information.

Sector: Energy transportation and distribution company.

Core businesses and operations:

  1. Midstream, which serves customers primarily in the Western Canada Sedimentary Basin.
  2. Utilities, which serves approximately 1.6 million customers1 with a rate base of approximately $3.7 billion through ownership of regulated natural gas distribution utilities in the District of Columbia, Virginia, Maryland, Michigan and Alaska.
  3. Power, which is engaged in the generation and sale of capacity, electricity, and ancillary services and related products through power facilities in Alberta, California, Colorado, Michigan, and North Carolina.
Issues Not tracked by our system The following Altagas issues are US$ based and not included in our system.
  1. ALA-C. Cumulative Redeemable 5,Year Rate Reset Preferred Shares, Series C.
  2. ALA-G. Cumulative Redeemable 5-Year Rate Reset Preferred Shares, Series G.

The latest information and statistics on their common stock ALA, can be easily accessed using websites like TMX Money.

Next Dividend Pay Date: 2020Dec31. Dividend Payment Schedule: 2021MAR31 , 2020JUN30 , 2020SEP30 , 2020DEC31

Ex Dividend Date Schedule: 2021MAR14 , 2020JUN13 , 2020SEP13 , 2020DEC12

 

AltaGas Credit Rating

The latest credit rating for AltaGas are listed in the table below. For additional information on credit rating agencies and codes see our article Credit Rating Symbols.

S&P CorporateS&P PreferredsDBRS Long TermDBRS Preferred'sS&P Global CorporateS&P Global PreferredsMoody's LongTermFitch Long TermFitch Short Term
BBBBBB(low)Pfd-3LBBB-P-3

AltaGas Common Share Metrics

Symbol: ALACurrency: CADMarket Cap: $5,231,350,608Price: $18.72
P/E: 15.70P/B: 0.75Dividend: $0.240Yield: 5.13%
Beta: 1.09

AltaGas Overall Preferred Share Metrics

I have reviewed the full set of AltaGas preferreds. Based on my review the following data points may be of interest to current and potential investors in the securities of "AltaGas". In other words, this is what I think is worth highlighting in this set of preferred shares. In addition it provides a quick overview of the detailed information presented furher down this page.


Preferred issues: 5Lowest Current Yield: ALA-K @ 5.12%Highest Current Yield: ALA-E @ 7.08%Average Current Yield: 5.74%
5 Year Reset issues: 45YR Reset Lowest Reset Yield: ALA-E @ 4.67%5YR Reset Highest Reset Yield: ALA-A @ 5.42%5YR Reset Average Reset Yield: 4.99%
Lowest Rate Increase Percent: ALA-K @ 2.00%Highest Rate Increase Percent: ALA-B @ 88.00%Average Rate Increase Percent: 47.20%
Market Cap at Market Value: 700,454,312Market Cap at Face Value: 900,000,000Discount Amount: 199,545,688Discount Percent: 22.17%
Percent of Total Market Cap at Market Value: 1.06%Percent of Total Market Cap at Face Value: 1.12%
 
 

Rank AltaGas Preferreds - Compare Tool.

If you need more information on how to use the metrics below, watch our video Introduction to Compare Tools or see our post how to pick the best preferred share of a company


Last Updated: Market Data Dec-31 18:04, Model Metrics Dec-31 18:10
SymbolPrice52W High52W Low
Fixed Rate Baseyield and dividend for the current issue based on last night’s closing stock price
Current (Yield | Dividend)
Reset (Yield | Dividend)yield and dividend for the current issue after the upcoming reset
Blended (Yield | Dividend)follow link passed the end of the table to see definition
Reset Date Y/M/DRate Increase percentRate Increase to valueNew Spread IncreaseNew Spread valueShort PositionAdditional FeaturesYears To Double Initial InvestmentOutstanding FloatName
ALA-A ALA.PR.A CA0213612090 $14.07$16.04$7.515YR + 2.66%05.44% | $0.7705.42% | $0.7605.46% | $0.762025SEP30077%5.42%043%3.82%9,208Cumulative13.085,511,220AltaGas Ltd. 3.38% Series A
ALA-K ALA.PR.K CA0213618378 $24.47$24.60$12.405YR MIN 5% + 3.80%05.12% | $1.2505.10% | $1.2505.10% | $1.252022MAR31002%4.28%002%3.88%115,384Cumulative13.8812,000,000AltaGas Ltd. 5% Series K
ALA-G ALA.PR.G CA0213618865 $17.99$18.07$8.515YR + 3.06%05.89% | $1.0604.80% | $0.8605.55% | $1.0 2024SEP30038%4.79%028%3.91%30,189Cumulative12.118,000,000AltaGas Ltd. 4.75% Series G
ALA-E ALA.PR.E CA0213618030 $19.05$20.18$10.305YR + 3.17%07.08% | $1.3504.67% | $0.8906.00% | $1.142023DEC31031%4.67%023%3.92%85,656Cumulative10.138,000,000AltaGas Ltd. 5% Series E
ALA-B ALA.PR.B CA0213613080 $13.24$16.01$7.523MTH + 2.66%05.17% | $0.6805.17% | $0.69N/AFLOATING088%5.76%047%3.91%1,574CumulativeN/A2,488,780AltaGas Ltd. cumulative redeemable floating rate preferred shares Series B
 
 

Reset Scenarios Based on Various G.O.C. 5 Year Bond Yield Rates

The following table presents 6 scenarios, of the issues resetting based on different 5 Year Bond rates. Each scenario consists of 3 columns and grouped by color. The rates assumed for the reset are as follows:
  • Scenario 1: 5YR GOC Rate is set at -0.5%
  • Scenario 2: 5YR GOC Rate is set at 0.01%
  • Scenario 3: 5YR GOC Rate is set at 0.4%
  • Scenario 4: 5YR GOC Rate is set at 0.8%
  • Scenario 5: 5YR GOC Rate is set at 1.2%
  • Scenario 6: 5YR GOC Rate is set at 1.6%

For more information please review our video and/or post. Links available at the bottom of the page


Rank Preferreds - Compare Reset Scenarios

Last Updated: Market Data Dec-31 18:04, Model Metrics Dec-31 18:10
Credit RatingSymbolReset Date Y/M/DFixed Rate BaseCurrent (Yield | Dividend)
5Yr @ -0.5%. Reset (Yield | Dividend)Scenario: 1 yield and dividend based on GOC 5yr Rate of 5Yr @ -0.5%.
5Yr @ -0.5%. Blended (Yield | Dividend)5Yr @ -0.5%. Rate Increase (percent | to value )
5Yr @ 0.01%. Reset (Yield | Dividend)Scenario: 2 yield and dividend based on GOC 5yr Rate of 5Yr @ 0.01%.
5Yr @ 0.01%. Blended (Yield | Dividend)5Yr @ 0.01%. Rate Increase (percent | to value )
5Yr @ 0.4%. Reset (Yield | Dividend)Scenario: 3 yield and dividend based on GOC 5yr Rate of 5Yr @ 0.4%.
5Yr @ 0.4%. Blended (Yield | Dividend)5Yr @ 0.4%. Rate Increase (percent | to value )
5Yr @ 0.8%. Reset (Yield | Dividend)Scenario: 4 yield and dividend based on GOC 5yr Rate of 5Yr @ 0.8%.
5Yr @ 0.8%. Blended (Yield | Dividend)5Yr @ 0.8%. Rate Increase (percent | to value )
5Yr @ 1.2%. Reset (Yield | Dividend)Scenario: 5 yield and dividend based on GOC 5yr Rate of 5Yr @ 1.2%.
5Yr @ 1.2%. Blended (Yield | Dividend)5Yr @ 1.2%. Rate Increase (percent | to value )
5Yr @ 1.6%. Reset (Yield | Dividend)Scenario: 6 yield and dividend based on GOC 5yr Rate of 5Yr @ 1.6%.
5Yr @ 1.6%. Blended (Yield | Dividend)5Yr @ 1.6%. Rate Increase (percent | to value )
Pfd3LALA-A ALA.PR.A CA0213612090 2025SEP305YR + 2.66%05.44% | $0.773.84% | $0.5405.30% | $0.74077% | 3.84%4.74% | $0.6605.40% | $0.75077% | 4.74%5.44% | $0.7605.46% | $0.76077% | 5.44%6.15% | $0.8605.54% | $0.77077% | 6.15%6.86% | $0.9605.61% | $0.78077% | 6.86%7.57% | $1.0705.68% | $0.8 077% | 7.57%
Pfd3LALA-K ALA.PR.K CA0213618378 2022MAR315YR MIN 5% + 3.80%05.12% | $1.255.11% | $1.2505.10% | $1.25002% | 5.11%5.11% | $1.2505.10% | $1.25002% | 5.11%5.11% | $1.2505.10% | $1.25002% | 5.11%5.11% | $1.2505.10% | $1.25002% | 5.11%5.11% | $1.2505.10% | $1.25002% | 5.11%5.52% | $1.3505.43% | $1.33002% | 5.52%
Pfd3LALA-G ALA.PR.G CA0213618865 2024SEP305YR + 3.06%05.89% | $1.063.56% | $0.6405.19% | $0.93039% | 3.56%4.27% | $0.7605.40% | $0.97039% | 4.27%4.81% | $0.8605.56% | $1.00039% | 4.81%5.36% | $0.9605.73% | $1.03038% | 5.36%5.92% | $1.0705.90% | $1.06039% | 5.92%6.48% | $1.1706.07% | $1.09039% | 6.48%
Pfd3LALA-E ALA.PR.E CA0213618030 2023DEC315YR + 3.17%07.08% | $1.353.50% | $0.6605.47% | $1.04031% | 3.50%4.17% | $0.7905.77% | $1.10031% | 4.17%4.69% | $0.8906.00% | $1.14031% | 4.69%5.21% | $0.9906.24% | $1.18031% | 5.21%5.73% | $1.0906.47% | $1.23031% | 5.73%6.26% | $1.1906.70% | $1.27031% | 6.26%




Current yields over time

The graph below shows the current yield of each AltaGas preferred share, over time. Place the mouse cursor over the graph to reveal data like (date, ticker and current Yield).
When viewing the graph below keep in mind the following
  1. The yield has an inverse relationshlp to the share price. As the share price rises towards face value the yield gets lower.
  2. For 5 year resets, at reset time the yield usually makes a substantial move up or down when the reset takes effect.




Reset yields over time

The graph below shows the projected reset yield of each AltaGas preferred share, over time. Place the mouse cursor over the graph to reveal data like (date, ticker and current Yield).
When viewing the graph below keep in mind the following
  1. This yield is projected based on todays 5yr GOC rate plus the spread of the preferred.
  2. This is a what if scenario. If the preferred was to reset today this would be the new yield.

Altagas Preferreds Consolidated Short Position Report

Here is a set of graphs, one for each Altagas preferred share. The graph illustrates the progress of the short position over time. The data is updated once every two weeks.
Use the graph to identify possible trends across the full set of Altagas preferreds.

ALA.PR.A Short Position over time

The graph below shows the short position for ALA.PR.A preferred share over time. Place the mouse cursor over the graph to reveal data like (date, short position detail).

Currently the outstanding float for ALA.PR.A is 5,511,220 and the latest short position is 7,831. Thus the current short position is 0.1400% of the outstanding float.

ALA.PR.E Short Position over time

The graph below shows the short position for ALA.PR.E preferred share over time. Place the mouse cursor over the graph to reveal data like (date, short position detail).

Currently the outstanding float for ALA.PR.E is 8,000,000 and the latest short position is 27,735. Thus the current short position is 0.3500% of the outstanding float.

ALA.PR.I Short Position over time

The graph below shows the short position for ALA.PR.I preferred share over time. Place the mouse cursor over the graph to reveal data like (date, short position detail).

Currently the outstanding float for ALA.PR.I is 8,000,000 and the latest short position is 0. Thus the current short position is 0.0000% of the outstanding float.

ALA.PR.B Short Position over time

The graph below shows the short position for ALA.PR.B preferred share over time. Place the mouse cursor over the graph to reveal data like (date, short position detail).

Currently the outstanding float for ALA.PR.B is 2,488,780 and the latest short position is 674. Thus the current short position is 0.0300% of the outstanding float.

ALA.PR.G Short Position over time

The graph below shows the short position for ALA.PR.G preferred share over time. Place the mouse cursor over the graph to reveal data like (date, short position detail).

Currently the outstanding float for ALA.PR.G is 8,000,000 and the latest short position is 75,277. Thus the current short position is 0.9400% of the outstanding float.

ALA.PR.K Short Position over time

The graph below shows the short position for ALA.PR.K preferred share over time. Place the mouse cursor over the graph to reveal data like (date, short position detail).

Currently the outstanding float for ALA.PR.K is 12,000,000 and the latest short position is 146,926. Thus the current short position is 1.2200% of the outstanding float.

 
 
Metrics Last Updated Dec-30 16:58

AltaGas Common Stock Dividend Growth over time

In this section I present information to help you decide if buying the common instead of the preferred is a better choice. There are times in the market cycle when the yield offered by the common is greater than that of the preferred. In addition the dividend of the common is usually increased on a yearly basis while for the majority of the preferreds it remains fixed for life or the 5 year period. Of course other factors should also be taken into account when making the final decision.

AltaGas common shares are currenlty yielding 5.1200% and have a Compound Annual Growth Rate of 0.0001% based on historical data starting with year 2010 to the latest year 2020. Current quarterly dividend is $0.239. Unfortunately the dividend has been not been consistently increasing over the last 11 years.

Case A. Based on the 11 year Compound Annual Growth Rate of the AltaGas dividend I calculate the future dividend for the next 5 years to be $0.240, $0.240, $0.240, $0.240, $0.240. Assuming the Stock price remains the same $18.74 over the next 5 years, the corresponding yields will be 5.12273%, 5.12274%, 5.12274%, 5.12275%, 5.12275%. The average yield over the next 5 years is expected to be 5.12275% . Use this yield when comparing to the corresponding preferred yield.

Case B. Based on the last 10 year Compound Annual Growth Rate of 0.0001% for the AltaGas dividend I calculate the future dividend for the next 5 years to be $0.240, $0.240, $0.240, $0.240, $0.240. Assuming the Stock price remains the same $18.74 over the next 5 years, the corresponding yields will be 5.12273%, 5.12274%, 5.12274%, 5.12275%, 5.12275%. The average yield over the next 5 years is expected to be 5.12275% . Use this yield when comparing to the corresponding preferred yield.

Case C. Based on the last 5 year Compound Annual Growth Rate of 0.0001% for the AltaGas dividend I calculate the future dividend for the next 5 years to be $0.240, $0.240, $0.240, $0.240, $0.240. Assuming the Stock price remains the same $18.74 over the next 5 years, the corresponding yields will be 5.12273%, 5.12274%, 5.12274%, 5.12275%, 5.12275%. The average yield over the next 5 years is expected to be 5.12275% . Use this yield when comparing to the corresponding preferred yield.

You now have an additional metric. Compare the projected common share yields to the current and projected yields of the preferreds to see if a preferred or common is better for you.

The graph below shows the dividend growth of AltaGas common stock over time. Place the mouse cursor over the graph to reveal data (date, quarterly dividend amount).

ALA Common Stock Short Position over time

The graph below shows the short position for ALA common share over time. Place the mouse cursor over the graph to reveal data like (date, short position detail).

Currently the outstanding float for ALA is 279,452,583 and the latest short position is 5,799,381. Thus the current short position is 2.0800% of the outstanding float.