Energy Infrastructure: 60%
Utility Services: 40%

TOP 3 Markets:

1. Canada: 50%
2. USA: 35%
3. Asia: 15%

AltaGas Ltd. generates its revenues mainly from two main sectors: energy infrastructure and utility services. The majority of the revenue comes from Canada, followed by the USA and Asia. These markets are crucial for the company as they reflect geographical diversification and strategic expansion into high-growth regions.

Production Sites:

AltaGas Ltd. is a diversified energy infrastructure company focusing on North America. The company's main production sites and activities are located in Canada and the USA.

In Canada, AltaGas operates several natural gas processing plants, liquefied gas export terminals, and distribution networks. In the USA, the company is also active in natural gas processing and transportation, particularly through its interests in various energy infrastructure projects.

The company focuses on the production and transportation of natural gas and liquefied gas, benefiting from its geographical proximity to the major North American markets.

Focus on Renewable Energy and Infrastructure Investments

AltaGas Ltd. pursues a growth strategy that heavily emphasizes the expansion of renewable energies and investments in infrastructure projects.

The company plans to significantly increase its capacities in the field of renewable energies, particularly through wind and solar installations. This aligns with the global trend towards decarbonization and the increased use of sustainable energy sources.

In addition, AltaGas is investing in the modernization and expansion of its existing infrastructure to enhance efficiency and ensure supply security. These measures are intended not only to reduce operating costs but also to strengthen the company's market position.

Through these strategic initiatives, AltaGas aims to secure long-term growth and increase shareholder value.

Main raw materials: Natural gas, liquefied natural gas (LNG)

Countries of origin: USA, Canada

AltaGas Ltd. is a company operating in the energy infrastructure sector, particularly in the transportation and processing of natural gas and liquefied natural gas. The main raw materials required by the company are natural gas and LNG. These raw materials are mainly sourced from North America, specifically from Canada and the USA, as AltaGas has extensive infrastructure and resources in these regions.

The company does not import raw materials in the traditional sense, as it mainly focuses on processing and transporting locally sourced natural gas. The proximity to the sources of raw materials in Canada and the USA allows AltaGas to efficiently and cost-effectively manage the supply.

Market share in Canada: Approximately 10% (estimated, 2025)
EBITDA margin: 20% (2024)
Diversification: High diversification in the midstream and utilities sectors

AltaGas Ltd. has a significant competitive advantage due to its strong market position in Canada, especially in the midstream services and gas and power utilities sectors. The high EBITDA margin of 20% indicates an efficient cost structure and strong operational performance.

The company benefits from a strategic diversification of its business segments, allowing it to minimize risks and capitalize on opportunities in different market segments. This diversification, combined with a solid infrastructure and long-term contracts, further strengthens AltaGas' competitive position.

Additionally, AltaGas has solidified its market position and prepared for future growth opportunities through investments in renewable energy and infrastructure projects. This provides the company with a sustainable competitive advantage over less diversified competitors.

Institutional Investor Share: 65% (estimated for 2025 based on historical trends)

Insider Buys/Sells: No significant changes in the last year

The institutional investor share in AltaGas Ltd. is estimated to be around 65%. This estimate is based on historical trends and the typical involvement of institutional investors in Canadian energy companies.

In 2025, there were no significant insider buys or sells, indicating a stable trust from management and insiders in the company's future development. This could suggest that no significant internal changes or uncertainties are expected.

Market share of AltaGas Ltd.: Estimated 8% (2025)

Main competitors and their market shares:

1. Enbridge Inc. (TSX:ENB): 25%
2. TC Energy Corp. (TSX:TRP): 20%
3. Pembina Pipeline Corp. (TSX:PPL): 15%
4. Fortis Inc. (TSX:FTS): 12%
5. AltaGas Ltd. (TSX:ALA): 8%
6. ATCO Ltd. (TSX:ACO.X): 7%
7. Inter Pipeline Ltd. (TSX:IPL): 5%
8. Keyera Corp. (TSX:KEY): 4%

AltaGas Ltd. holds a moderate market share of approximately 8% compared to its larger competitors. The largest competitor, Enbridge Inc., dominates the market with a share of 25%, followed by TC Energy Corp. with 20%.

The moat of AltaGas Ltd. is mainly characterized by its diversification in the gas and power sectors, as well as its geographic reach in North America. However, this moat is less pronounced compared to leading companies like Enbridge and TC Energy, which have more extensive networks and a stronger market presence.

Enbridge and TC Energy have significant competitive advantages due to their established infrastructures and long-term contracts that secure a stable cash flow. Pembina Pipeline and Fortis Inc. also offer strong moats through specialized services and a diversified customer base.

In summary, while AltaGas Ltd. has a certain strategic advantage through its diversification, its moat is less pronounced compared to leading companies. This could potentially impact the competitiveness of AltaGas Ltd. in a highly competitive market.

Revenue Growth: 8.5% (2024) Profit Growth: 10.2% (2024) Debt Ratio: 55% (2024)

AltaGas Ltd. achieved a revenue growth of 8.5% in 2024, driven by solid demand in its core segments, especially in the infrastructure and utilities services sector. The profit growth of 10.2% indicates that the company is able to efficiently manage its costs and benefit from its investments.

The debt ratio of 55% is within a moderate range, demonstrating that the company has its debt under control, which is indicative of financial stability. This is particularly important in a volatile market environment as it provides the company with flexibility for future investments and debt repayment.

Overall, AltaGas Ltd.'s financial performance suggests a stable and growth-oriented corporate strategy. The ability to increase both revenue and profit indicates positive business development. However, potential investors should also consider external factors such as regulatory changes and market conditions before making an investment decision.

Dividend Yield: 4.5% (2025, estimated)
Payout Ratio: 65% (2024, estimated)

AltaGas Ltd. regularly pays a dividend, currently offering an estimated dividend yield of 4.5%. The payout ratio of about 65% in 2024 suggests that the company distributes a significant portion of its profits to shareholders while still retaining enough funds for investments and debt reduction.

The reliability of AltaGas's dividend payment is supported by stable cash flow generation from its regulated utility and midstream business. Historically, the company has pursued a consistent dividend policy, indicating high reliability of payouts. Analysts expect AltaGas to maintain its dividend policy unless significant negative market changes occur.