July 26, 2012 / 1:34 PM / 6 years ago

UPDATE 1-AltaGas FFO falls on weak prices

* Revenue falls 16 pct

* Says on track to buy C$1.8 bln of assets in 2012

July 26 (Reuters) - Canadian energy infrastructure company AltaGas Ltd reported a 14 percent fall in its quarterly funds from operations (FFO) on account of lower natural gas and power prices.

AltaGas, which is involved in gas extraction, energy services and power generation and transmission, said FFO fell to C$39.9 million ($39.1 million), or 44 Canadian cents per share, in the second quarter from C$46.5 million, or 56 Canadian cents per share, a year earlier.

U.S. natural gas prices fell 46 percent to average $2.4 per million British thermal unit in the April-June quarter, compared to the year-ago period.

Normalized net income applicable to common shares fell 36 percent to C$10.4 million, or 12 Canadian cents per share.

Revenue fell 16 percent to C$271.7 million.

The Calgary, Alberta-based company, which has operations in both the U.S. and Canada, said it is on track to acquire C$1.8 billion worth of new assets this year.

Shares of the company, which has a market value of C$2.71 billion, were trading flat at C$30.00 on Thursday on the Toronto Stock Exchange.

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