AltaGas (TSE:ALA) Issues Earnings Results

AltaGas (TSE:ALA) issued its quarterly earnings data on Thursday. The company reported C$1.33 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$3.97 billion during the quarter. AltaGas had a return on equity of 8.74% and a net margin of 6.14%.

Here are the key takeaways from AltaGas’ conference call:

• Record Q1 — AltaGas reported normalized EBITDA of CAD 818 million and normalized EPS of CAD 1.33, and now expects 2026 results at the top of guidance with a chance to exceed it if LPG export strength continues.
• REEF progress and optionality — REEF Phase 1 is ~75% complete with ~90% of costs incurred/committed and 80% under fixed?price EPCs; Optimization 1 (30,000 bpd) is underway and Opti 2 permits are secured, supporting a large scalable export platform.
• Midstream momentum and downside protection — Montney volumes rose 14% YoY125,000 bpd, and ~82% of remaining 2026 export volumes are tolled or hedged, leaving limited open exposure for upside.
• Market and capital risks — Results remain exposed to a volatile, heavily backwardated LPG market (physical premiums vs FEI) and AltaGas raised 2026 capex to CAD 1.7 billion, with leverage expected to move back into the 4.5–5.0x range by year?end if seasonality and project spend accelerate.

AltaGas Trading Up 0.8%

TSE:ALA traded up C$0.38 on Thursday, reaching C$51.02. 1,039,773 shares of the company’s stock were exchanged, compared to its average volume of 1,010,691. The firm has a market capitalization of C$15.88 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of -4.97 and a beta of 0.34. AltaGas has a 52-week low of C$37.08 and a 52-week high of C$52.30. The company has a quick ratio of 0.44, a current ratio of 0.82 and a debt-to-equity ratio of 118.25. The business has a fifty day moving average of C$48.01 and a 200-day moving average of C$44.18.

AltaGas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.334 per share. This represents a $1.34 dividend on an annualized basis and a yield of 2.6%. This is a boost from AltaGas’s previous quarterly dividend of $0.32. The ex-dividend date was Monday, March 16th. AltaGas’s payout ratio is currently 50.81%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ALA shares. JPMorgan Chase & Co. upped their price target on AltaGas from C$49.00 to C$52.00 in a research note on Tuesday, April 14th. National Bank Financial boosted their price objective on shares of AltaGas from C$50.00 to C$51.00 and gave the company an “outperform” rating in a report on Monday, March 9th. Scotiabank upped their target price on shares of AltaGas from C$52.00 to C$54.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. ATB Cormark Capital Markets lifted their price target on shares of AltaGas from C$52.00 to C$54.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Finally, Royal Bank Of Canada boosted their price target on shares of AltaGas from C$48.00 to C$50.00 and gave the company an “outperform” rating in a research note on Monday, March 9th. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$50.89.

About AltaGas

AltaGas Ltd owns and operates a diversified basket of energy infrastructure businesses. Business is conducted through four segments: Midstream, power, utilities and corporate. 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 the natural gas liquid processing and extraction, transportation, and storage. Natural gas is sold and purchased for both commercial and industrial users.