AltaGas (TSE:ALA) Issues Quarterly Earnings Results

AltaGas (TSE:ALA) announced its quarterly earnings results on Thursday. The company reported C$1.33 earnings per share (EPS) for the quarter, FiscalAI reports. AltaGas had a return on equity of 5.92% and a net margin of 4.02%.The firm had revenue of C$3.97 billion during 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 Stock Up 2.5%

TSE:ALA opened at C$52.20 on Friday. The company has a market capitalization of C$16.24 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of -4.97 and a beta of 0.34. AltaGas has a one year low of C$37.08 and a one year high of C$52.50. The stock has a 50-day simple moving average of C$48.13 and a 200 day simple moving average of C$44.23. The company has a debt-to-equity ratio of 115.95, a quick ratio of 0.44 and a current ratio of 0.88.

AltaGas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were paid a $0.334 dividend. This represents a $1.34 dividend on an annualized basis 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 payout ratio is 50.81%.

Wall Street Analysts Forecast Growth

ALA has been the subject of several recent research reports. Scotiabank increased their price target on AltaGas from C$54.00 to C$57.00 and gave the company a “sector outperform” rating in a report on Friday. TD Securities increased their price target on AltaGas from C$48.00 to C$51.00 and gave the company a “buy” rating in a report on Monday, March 9th. National Bank Financial increased their price target on AltaGas from C$51.00 to C$52.00 and gave the company an “outperform” rating in a report on Friday. ATB Cormark Capital Markets increased their price target on AltaGas from C$54.00 to C$56.00 and gave the company an “outperform” rating in a report on Friday. Finally, Jefferies Financial Group increased their price target on AltaGas from C$49.00 to C$53.00 in a report on Monday, March 9th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$53.25.

AltaGas News Roundup

Here are the key news stories impacting AltaGas this week:

• Positive Sentiment: Record Q1 results and outlook improvement — AltaGas reported C$1.33 EPS on C$3.97B revenue, highlighted a solid net margin and ROE, and raised 2026 capital spending guidance; this underpins the bullish tone from analysts. View Press Release
• Positive Sentiment: ATB Cormark raised its price target to C$56 and maintained an “outperform” rating, signaling further upside in analyst estimates. BayStreet.CA
• Positive Sentiment: RBC increased its target to C$55 and kept an “outperform” rating, adding institutional weight to the rally. BayStreet.CA
• Positive Sentiment: Scotiabank bumped its target to C$57 with a “sector outperform” call, the highest of the recent upgrades and a clear vote of confidence. BayStreet.CA
• Positive Sentiment: Business development catalyst — AltaGas is expanding propane customer reach in Asia amid ongoing supply shocks, which supports international demand dynamics for its commodity-linked businesses. Expansion Article
• Neutral Sentiment: National Bank Financial raised its target to C$52 (from C$51) but that target sits slightly below the current market price, making its impact mixed. BayStreet.CA
• Neutral Sentiment: Media coverage and inclusion in investor “top picks” lists and 52-week-high roundups add retail/institutional visibility but are secondary to fundamentals and analyst views. MSN Yahoo

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.