AltaGas (TSX:ALA.PR.U.PFD) Momentum Rank : 9 (As of Apr. 25, 2024)

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What is AltaGas Momentum Rank?

AltaGas has the Momentum Rank of 9.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Competitive Comparison of AltaGas's Momentum Rank

For the Oil & Gas Midstream subindustry, AltaGas's Momentum Rank, along with its competitors' market caps and Momentum Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

AltaGas's Momentum Rank Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, AltaGas's Momentum Rank distribution charts can be found below:

* The bar in red indicates where AltaGas's Momentum Rank falls into.

AltaGas Momentum Rank Related Terms

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AltaGas (TSX:ALA.PR.U.PFD) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » AltaGas Ltd (TSX:ALA.PR.U.PFD) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

ATGFF:USA AQ3:Germany ALA.PR.H.PFD:Canada ALA.PR.G.PFD:Canada ALA.PR.B.PFD:Canada ALA.PR.A.PFD:Canada ALA:Canada

Address

1700, 355 - 4th Avenue S.W., Calgary, AB, CAN, T2P 0J1

Website

https://www.altagas.ca

AltaGas Ltd owns and operates a diversified basket of energy infrastructure businesses. Business is conducted through given segments: Midstream, Utilities and Corporate/other. Utility business owns and operates rate-regulated natural gas distribution assets across North America. Midstream business subsequent to the sale of non-core midstream assets in Canada and also engaged in natural gas liquid processing and extraction, transportation, and storage. Natural gas is sold and purchased for both commercial and industrial users. Revenue is derived from customers in both Canada and the United States, with Canadian customers contributing the most.

AltaGas (TSX:ALA.PR.U.PFD) Headlines

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