AltaGas (TSE:ALA) Posts Earnings Results

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

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 0.5%

AltaGas stock opened at C$50.91 on Friday. The company has a debt-to-equity ratio of 118.25, a quick ratio of 0.44 and a current ratio of 0.82. The firm has a market cap of C$15.84 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of -4.97 and a beta of 0.34. AltaGas has a 1 year low of C$37.08 and a 1 year high of C$52.30. The firm’s 50 day moving average price is C$48.13 and its two-hundred day moving average price is C$44.23.

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 given a $0.334 dividend. This represents a $1.34 annualized dividend and a yield of 2.6%. This is a positive change from AltaGas’s previous quarterly dividend of $0.32. The ex-dividend date was Monday, March 16th. AltaGas’s dividend payout ratio (DPR) is presently 50.81%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ALA shares. JPMorgan Chase & Co. boosted their target price on AltaGas from C$49.00 to C$52.00 in a report on Tuesday, April 14th. TD Securities boosted their target price on AltaGas from C$48.00 to C$51.00 and gave the stock a “buy” rating in a report on Monday, March 9th. National Bank Financial boosted their target price on AltaGas from C$50.00 to C$51.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. Jefferies Financial Group boosted their target price on AltaGas from C$49.00 to C$53.00 in a report on Monday, March 9th. Finally, ATB Cormark Capital Markets boosted their target price on AltaGas from C$52.00 to C$54.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$50.89.

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.