AltaGas (TSE:ALA) Issues Earnings Results

AltaGas (TSE:ALA) issued its earnings results on Thursday. The company reported C$0.29 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$3.43 billion for the quarter. AltaGas had a return on equity of 7.00% and a net margin of 4.59%.

Here are the key takeaways from AltaGas’ conference call:

• Record Q3 performance: Normalized EBITDA rose 45% year over year to CAD 389 million, while normalized EPS increased to CAD 0.29 from CAD 0.04, driven primarily by strong midstream results and LPG market conditions.
• AltaGas expects to finish 2026 toward the upper end of its increased guidance for normalized EBITDA of CAD 2.0–2.1 billion and normalized EPS of CAD 2.35–2.60; leverage declined to 4.3x, below its 4.5–5.0x target range.
• The REEF export project is 90% complete and remains on track for commissioning and a first-quarter 2027 start, while REEF Optimization Two is expected to reach FID by year-end and potentially enter service in late 2029 or early 2030.
• Global LPG disruptions have lifted Asian prices, export spreads and shipping rates, but AltaGas said tolling agreements, hedges and time-chartered vessels limit its exposure; Western Canadian supply growth could support significant future LPG and ethane export expansion.
• A labor strike at Trigon Pacific Terminals is expected to reduce RIPET loading volumes after a regulatory ruling limited AltaGas’s mitigation measures, although management said the impact has been conservatively reflected in guidance and is pursuing alternative rail, storage and Ferndale options.

AltaGas Stock Performance

Shares of ALA opened at C$55.52 on Friday. The company has a debt-to-equity ratio of 112.99, a quick ratio of 0.43 and a current ratio of 0.86. AltaGas has a twelve month low of C$39.45 and a twelve month high of C$58.14. The firm’s 50 day moving average price is C$53.94 and its two-hundred day moving average price is C$51.01. The firm has a market cap of C$17.32 billion, a P/E ratio of 28.04, a PEG ratio of -4.97 and a beta of 0.32.

AltaGas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were issued a dividend of $0.3340 per share. This represents a $1.34 annualized dividend and a yield of 2.4%. The ex-dividend date was Wednesday, September 16th. AltaGas’s dividend payout ratio (DPR) is 65.56%.

More AltaGas News

Here are the key news stories impacting AltaGas this week:

• Positive Sentiment: Normalized net income increased: AltaGas reported higher third-quarter normalized net income, indicating improved underlying profitability and providing a positive earnings catalyst. AltaGas Q3 Normalized Net Income Rises
• Positive Sentiment: Management expects a strong full-year finish: AltaGas’ CEO said the company expects full-year results to land near the high end of its guidance range. That signals confidence in operating performance and could support investor expectations for the remainder of the year. AltaGas CEO expects full-year results near high-end of guidance
• Positive Sentiment: Analysts raised their valuation targets: National Bank Financial lifted its target from C$60 to C$61 while maintaining an “outperform” rating. Scotia raised its target from C$61 to C$63 and retained a “sector outperform” rating. The revisions reflect increased confidence in AltaGas’ earnings outlook and imply meaningful potential appreciation from recent trading levels. National Bank Financial AltaGas recommendations Scotia AltaGas recommendations
• Neutral Sentiment: Quarterly results provide additional context: AltaGas reported C$0.29 in quarterly EPS and C$3.43 billion in revenue, with a 4.59% net margin and 7.00% return on equity. Without a stated comparison with analyst estimates, the immediate earnings surprise is unclear. AltaGas quarterly earnings results

Analysts Set New Price Targets

ALA has been the topic of a number of analyst reports. National Bank Financial increased their price target on shares of AltaGas from C$60.00 to C$61.00 and gave the company an “outperform” rating in a research report on Friday. Scotia upped their target price on shares of AltaGas from C$61.00 to C$63.00 and gave the company a “sector outperform” rating in a research note on Friday. ATB Cormark Capital Markets increased their target price on shares of AltaGas from C$60.00 to C$63.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Royal Bank Of Canada lifted their price target on shares of AltaGas from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, Scotiabank boosted their price target on shares of AltaGas from C$57.00 to C$62.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 21st. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$58.10.

AltaGas Company Profile

AltaGas is a leading North American infrastructure company that connects customers and markets to affordable and reliable sources of energy. The Company operates a diversified, lower-risk, high-growth Utilities and Midstream business that is focused on delivering resilient and durable value for its stakeholders.