AltaGas (TSE:ALA – Get Free Report) released its earnings results on Thursday. The company reported C$0.31 earnings per share for the quarter, FiscalAI reports. AltaGas had a return on equity of 5.92% and a net margin of 4.02%.The company had revenue of C$3.80 billion for the quarter.
Here are the key takeaways from AltaGas’ conference call:
- AltaGas raised its 2026 guidance, increasing normalized EBITDA to CAD 2.0–2.1 billion and normalized EPS to CAD 2.35–2.60 per share, reflecting strong first-half performance and expected year-over-year EBITDA growth of about 10%.
- REEF is now expected to enter service before the end of Q1 2027, later than previously planned, while its capital cost estimate increased 12% to approximately CAD 1.5 billion due to weather, ocean conditions, and marine mammal-related construction delays.
- Midstream performance was especially strong, with normalized EBITDA up 33% year over year to CAD 285 million and record LPG exports of 144,000 barrels per day. AltaGas said Middle East supply disruptions are supporting physical premiums and strengthening demand for Canadian LPG.
- Utilities continue to provide visible growth through modernization spending, regulatory rate increases, and demand from data centers and other large-load customers; the company expects approximately 10% rate-base growth in 2026 and 8% long-term growth through 2030.
- AltaGas increased its 2026 capital budget to CAD 1.8 billion while maintaining leverage at 4.4 times, below its 4.5–5.0 times target range. Management expects leverage to move toward the midpoint of that range as capital spending and seasonal business requirements increase.
AltaGas Stock Up 0.3%
Shares of TSE ALA opened at C$55.83 on Friday. The stock has a 50 day moving average price of C$54.46 and a 200 day moving average price of C$49.53. AltaGas has a 52-week low of C$39.45 and a 52-week high of C$57.52. The firm has a market capitalization of C$17.39 billion, a price-to-earnings ratio of 34.04, a PEG ratio of -4.97 and a beta of 0.35. The company has a debt-to-equity ratio of 115.95, a quick ratio of 0.43 and a current ratio of 0.88.
AltaGas Dividend Announcement
Analyst Upgrades and Downgrades
ALA has been the topic of several recent research reports. National Bank Financial raised their price objective on AltaGas from C$52.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. JPMorgan Chase & Co. increased their target price on shares of AltaGas from C$49.00 to C$52.00 in a report on Tuesday, April 14th. ATB Cormark Capital Markets raised their target price on shares of AltaGas from C$54.00 to C$56.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Royal Bank Of Canada lifted their price target on shares of AltaGas from C$50.00 to C$55.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Finally, Scotiabank upped their price target on shares of AltaGas from C$57.00 to C$62.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 21st. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$54.88.
Check Out Our Latest Research Report on ALA
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.
Recommended Stories
- Five stocks we like better than AltaGas
- Microsoft Just Flipped the AI Spending Narrative Overnight
- Qualcomm’s Turnaround Is Working, So Why Is Wall Street Selling?
- Meta’s Earnings Show Why Wall Street Is Losing Patience With AI Spending
- Can Starbucks Keep This Turnaround Going? The Latest Results Say Yes
Receive News & Ratings for AltaGas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AltaGas and related companies with MarketBeat.com's FREE daily email newsletter.
