AltaGas (TSE:ALA) Issues Earnings Results

AltaGas (TSE:ALA) posted its quarterly earnings data on Friday. The company reported C$0.77 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$3.29 billion during the quarter. AltaGas had a net margin of 6.15% and a return on equity of 8.78%.

Here are the key takeaways from AltaGas’ conference call:

• AltaGas reported strong 2025 results with normalized EBITDA of about CAD 1.86 billion, EPS of CAD 2.23, a 29% total shareholder return for the year, and management reiterated its 2026 guidance.
• Major growth projects are advancing on schedule and budget — Pipestone 2 is in service, REEF Phase I is ~70% complete, and REEF Optimization One was upsized to add ~30,000 barrels/day of propane export capacity.
• Midstream export fundamentals strengthened (record global exports, 45% of volumes to China) and commercial risk is being de‑risked: ~80% of 2026 export volumes are tolled or financially hedged and Baltic freight exposure is largely hedged.
• Utilities momentum continues with regulatory wins and active modernization programs (~CAD 1.7 billion across jurisdictions), driving 14% Y/Y utility EBITDA growth and an expected ~10% rate base increase in 2026.
• Despite better credit metrics (adjusted net debt/EBITDA 4.7x and positive rating outlook), risks remain: merchant commodity exposure and a public dispute with the Metlakatla First Nation over Trigon exclusivity could affect future permitting or project timing.

AltaGas Price Performance

ALA stock opened at C$46.28 on Friday. The company has a market cap of C$14.40 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of -4.97 and a beta of 0.49. The company has a current ratio of 0.88, a quick ratio of 0.44 and a debt-to-equity ratio of 126.46. The stock has a 50-day moving average price of C$42.96 and a two-hundred day moving average price of C$42.42. AltaGas has a 12-month low of C$35.33 and a 12-month high of C$48.32.

AltaGas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, December 16th. AltaGas’s payout ratio is 49.90%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ALA. Canadian Imperial Bank of Commerce lifted their price objective on AltaGas from C$47.00 to C$50.00 in a research report on Wednesday, December 17th. JPMorgan Chase & Co. raised their price target on AltaGas from C$45.00 to C$47.00 in a research note on Wednesday, December 3rd. National Bank Financial lifted their price target on AltaGas from C$46.00 to C$50.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. ATB Cormark Capital Markets upped their price objective on shares of AltaGas from C$48.00 to C$49.00 and gave the company an “outperform” rating in a research note on Tuesday, December 23rd. Finally, Scotiabank increased their price objective on shares of AltaGas from C$48.00 to C$50.00 in a report on Tuesday, December 16th. Seven analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, AltaGas has an average rating of “Moderate Buy” and an average price target of C$48.11.

AltaGas Company Profile

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.