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Resources Report

AltaGas Ltd

Jan 17, 2025

ALA:TSX
Investment Type
Large-cap
Risk Level
Action
Rec. Price (CA$)

Section1: Commodity Update:

Closing inventories of natural gas held in Canadian facilities reached 1.2 billion gigajoules in October (+6.9% year over year), setting a record high for the third consecutive month. A warmer-than-usual winter in 2024, coupled with elevated production levels, resulted in larger amounts of natural gas being injected to storage. In October, storage levels were 18.1% higher than the five-year average for the month. Production of natural gas rose 2.3% year over year to 679.6 million gigajoules in October, while deliveries of natural gas to consumers edged up 0.5% to 380.4 million gigajoules, and exports rose 11.7%.

Data Source: Government of Canada 

Section2: Company Overview and Fundamental Insights:

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