Financial Wire

RBC Favors AltaGas In Potential LPG Supply Shift Amid Iran War

-- RBC Capital Markets said over the weekend that AltaGas (ALA.TO) is its most favored way to play a potential global supply shift for the liquefied petroleum gas sector.

RBC said investors are expected to focus on LPG export amid the war in Iran.

AltaGas operates two joint venture terminals in Prince Rupert, British Columbia, and owns an LPG export terminal in Ferndale, Washington State.

"Although AltaGas can benefit from wider margins for spot cargoes, we believe the greatest upside is if it can secure new long-term tolling contracts to underpin further expansions of its Ridley Island Energy Export Facility," RBC said.

"While a smaller proportion of its business, Pembina Pipeline (PPL.TO) has its Prince Rupert Terminal that exports LPGs as well as holding LPG export capacity through AltaGas' infrastructure," RBC added.

AltaGas is part of the RBC Global Top 30 list.

Price: $49.40, Change: $+0.51, Percent Change: +1.04%

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