AltaGas Ltd. Preferred Stock 6.017% Perpetual (ATGAF)

Overview

AltaGas Ltd. is an energy infrastructure corporation based in North America, operating primarily through its two segments: Utilities and Midstream. Founded in 1994, the company is strategically headquartered in Calgary, Canada, positioning itself as a key player in the North American energy sector. AltaGas focuses on the delivery of sustainable energy solutions, serving over 1.6 million customers through its regulated natural gas distribution and storage utilities across Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia. In addition to its extensive utilities operations, AltaGas engages in significant midstream activities, leveraging its assets to offer a range of services critical for the processing, fractionation, storage, and transportation of natural gas and natural gas liquids (NGLs).

Products and Services

• Utilities

This segment encompasses the ownership and operation of franchise-based, cost-of-service, rate-regulated natural gas distribution and storage utilities. AltaGas provides these essential services across several states in the United States, catering to a high volume of residential, commercial, and industrial customers. Their utilities infrastructure supports a stable and reliable delivery of natural gas, essential for heating, cooking, and other energy needs. Additionally, they offer interstate natural gas transportation and storage services, facilitating the broader distribution of natural gas across regions.

• Midstream

The Midstream segment of AltaGas includes a wide array of activities critical to the natural gas and NGL market. It encompasses natural gas gathering, processing, and extraction capabilities, with a substantial processing capacity that supports the production and distribution of clean and efficient energy. This segment also involves fractionation and liquids handling, along with marketing activities for natural gas and NGLs, providing a comprehensive suite of services for energy producers and consumers. Beyond these, AltaGas is actively engaged in LPG exports and distribution, evidencing its extensive logistics network that includes trucking, rail terminals, and liquid storage solutions. This segment ensures the efficient and effective movement of energy products from production sites to markets.

• Gas-Fired Power Generation and Distribution

AltaGas also operates gas-fired power generation and distribution assets, particularly in California, boasting a generating capacity of 508 megawatts. This capacity underlines the company’s commitment to contributing to the power supply, especially in regions demanding clean and reliable electricity. Through these assets, AltaGas supports the energy matrix with a focus on sustainability and efficiency, ensuring that customers receive a steady supply of energy.