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TSX · Oil & Gas Midstream · CAD

AltaGas Ltd. (ALA.TO) Stock Analysis

AltaGas Ltd. (ALA.TO) is a Oil & Gas Midstream stock listed on TSX and quoted in Canadian Dollar.

ALA.TO

CA$52.54

+CA$0.32 (+0.61%)

Sep 4, 2026 · Market close

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Price History

Hover for the daily close. The dotted line marks the period open.

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ALA.TO Key Statistics

As of Sep 4, 2026
Trading
Open
CA$52.29
Previous Close
CA$52.22
Day's Range
52.03–52.65
52-Week Range
39.45–57.52
Volume
629.20K
BetaHow much the share price moves relative to the wider market. 1.0 moves in line with it; above 1.0 swings more, below 1.0 less.
0.47
Valuation
Market Cap
CA$16.39B
P/E Ratio
26.54
Forward P/EShare price divided by forecast earnings for the year ahead, rather than the year just past.
18.50
P/S ratioMarket value divided by annual revenue. Useful for companies that are not yet profitable, where a P/E cannot be calculated.
1.20
EPS (ttm)Profit attributable to each share over the last twelve months.
1.98
Financials (FY)
Revenue (FY)
CA$12.71B+2.06%
Net Income (FY)
CA$768.00M+28.86%
Profit marginThe share of revenue left as profit after all costs and taxes.
4.63%
Shares OutstandingThe total number of shares held by all investors. Market value is this figure multiplied by the share price.
312.01M
1-Year Return
+30.93%
Dividend and dates
Dividend
CA$1.34+2.56%
Ex-Dividend Date
September 16, 2026
Earnings Date
October 29, 2026
Avg Volume
869.27K

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

ALA.TO Stock Return by Calendar Year

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

YearReturn
2026 (partial year)+27.19%
2025+29.01%
2024+24.95%
2023+24.42%
2022−10.99%
2021+52.14%
2020+0.41%
2019+49.96%
2018−46.84%
2017−9.38%
2016 (partial year)+2.70%

As of September 4, 2026.

ALA.TO Revenue and Earnings by Fiscal Year

FY ends December
Fiscal yearRevenueNet incomeNet margin
2025CA$12.71BCA$768.00M6.0%
2024CA$12.45BCA$596.00M4.8%
2023CA$13.00BCA$673.00M5.2%
2022CA$14.09BCA$523.00M3.7%
Fiscal yearRevenueGross profitOperating incomeNet incomeNet margin
2025CA$12.71BCA$3.69BCA$1.43BCA$768.00M6.0%
2024CA$12.45BCA$3.25BCA$1.09BCA$596.00M4.8%
2023CA$13.00BCA$2.89BCA$911.00MCA$673.00M5.2%
2022CA$14.09BCA$2.95BCA$1.00BCA$523.00M3.7%

Annual figures as reported, in the company's reporting currency. As of December 31, 2025.

ALA.TO Dividend History

CA$1.26+5.7% vs 2024

Dividends per share, 2025 · 4 payments

YearDividends per sharePaymentsChange
2026*CA$0.672—
2025CA$1.264+5.7%
2024CA$1.194+6.4%
2023CA$1.124+5.7%
YearDividends per sharePaymentsChange
2026 (partial year)CA$0.672—
2025CA$1.264+5.7%
2024CA$1.194+6.4%
2023CA$1.124+5.7%
2022CA$1.064+6.4%
2021CA$1.0012+3.4%
2020CA$0.9612+0.3%
2019CA$0.9612−54.1%
2018CA$2.0912−1.1%
2017CA$2.1212+202.3%
2016CA$0.704—

Most recent payment: CA$0.33 per share, ex-dividend June 16, 2026. Per-share amounts summed by calendar year from ex-dividend dates. Partial years are shown muted and marked with an asterisk.

ALA.TO Valuation vs Oil & Gas Midstream Median

Median of 65 stocks
MetricALA.TOOil & Gas Midstream medianvs median
P/E26.5415.5471% above
P/S ratio1.202.6555% below
Profit margin4.63%20.00%15.4 pts below

Medians across 65 Oil & Gas Midstream stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of September 4, 2026.

Analysis

Data-derived

Company Overview

The market values AltaGas Ltd. (ALA.TO) at CA$16.39B. It is classified in the Oil & Gas Midstream industry, within the Energy sector. The company reports 2,853 employees.

Over the past 52 weeks the price has ranged from CA$39.45 to CA$57.52. ALA.TO last closed at CA$52.54 on September 4, 2026. That is +CA$0.32 (+0.61%) against the previous close. The latest close sits 33.18% above that 52-week low.

Financial Health

Fiscal 2025 revenue came to CA$12.71B. Against the prior fiscal year total of CA$12.45B, that is a change of +2.06%. The same year closed with net income of CA$768.00M. That is +28.86% against the prior fiscal year. Profit margin runs at 4.63%. That is 15.4 percentage points below the Oil & Gas Midstream median of 20%. Earnings per share on a trailing basis come to 1.98.

Across the 4 fiscal years on file, revenue moves from CA$14.09B in 2022 to CA$12.71B in 2025. Of those 4 years, 4 report positive net income.

Valuation Assessment

On trailing earnings, the shares are priced at 26.54 times earnings. That is 70.79% above the Oil & Gas Midstream median of 15.54. On forward earnings the ratio is 18.5. Measured against sales, the shares trade at 1.2 times revenue. On price-to-sales that is 54.74% below the Oil & Gas Midstream median of 2.65. 65 Oil & Gas Midstream companies report these metrics, and the medians quoted come from that group.

Over the trailing twelve months the price has returned +30.93%. Measured over 10 years, that is +9.57% a year compounded. Beta against the wider market is reported at 0.48. Daily returns over the trailing 10 years annualize to a volatility of 28.86%.

Growth & Income

The trailing dividend yield is 2.56%. That is 2.8 percentage points below the Oil & Gas Midstream median yield of 5.35%. The indicated annual rate is CA$1.34 a share. The ex-dividend date on file is September 16, 2026. Dividends are recorded for 11 calendar years; 2026 shows 2 payments totalling CA$0.67 a share. The year before, 2025, totalled CA$1.26 a share.

Across the complete calendar years on file, 2021 returned +52.14% and 2018 returned −46.84%. Of the 9 complete calendar years on file, 6 finished higher. So far in 2026 the price is +27.19%.

Peer Comparison

AltaGas Ltd. (ALA.TO) operates in the Oil & Gas Midstream industry. Here is how it compares to its closest peers by market capitalization:

Company Ticker Market Cap P/E Ratio
AltaGas Ltd. ALA.TO CA$16.39B 26.5
Enbridge Inc. ENB CA$109.40B 26.9
The Williams Companies, Inc. WMB CA$90.70B 29.5
Enterprise Products Partners L.P. EPD CA$84.09B 13.6

The Oil & Gas Midstream industry average P/E ratio is 15.5x. AltaGas Ltd. trades at a P/E of 26.5.

Every figure above is read from this page's own data on each nightly rebuild. Informational only, not financial advice. As of September 4, 2026.

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About AltaGas Ltd.

AltaGas Ltd. operates as an energy infrastructure company in North America. It operates through the Utilities and Midstream segments. The Utilities segment owns and operates franchised, cost-of-service, and rate-regulated natural gas distribution and storage utilities for residential and commercial customers. This segment also offers storage facilities and contracts for interstate natural gas transportation and storage services, as well as natural gas and electricity directly to residential, commercial, and industrial customers in Virginia, Maryland, Delaware, Pennsylvania, Ohio, New Jersey, and the District of Columbia. The Midstream segment is involved in the operation of two liquified petroleum gas export terminals; natural gas gathering, processing, and extraction; and fractionation and liquids handling; and natural gas and natural gas liquids marketing business, domestic logistics, trucking and rail terminals, and liquid and natural gas storage capability. In addition, the company operates gas-fired power generation and distribution assets with a generating capacity of 508 megawatts of power in California. AltaGas Ltd. was founded in 1994 and is headquartered in Calgary, Canada.

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