Altagas Ltd (ALA.TO) Buy, Sell or Hold

Altagas Ltd (ALA.TO)

53.87

+0.55 (1.03%)

as of Jun 19, 2026, 8:00:00 pm Market Open.

576 watching

BUY

A great name. It has a utility and a mid-stream business, and its valuation is still quite compelling at current levels.

BUY

Mid-stream business is extremely strong. Utility side is more underappreciated. Quietly building their rate base, which will continue to push ROEs. Not as linked to an economic slowdown. Bankable, regulated returns.

HOLD

Not accumulating here, wait for a pullback. Business focused and on track. Divested assets at strong valuations. Overhang from WGL has faded. Improving returns on US utilities. Defensiveness of a utility, but also midstream torque for growth.

BUY

Growth prospects? They went through a difficult time in the middle/end of the last decade. ALA is well-positioned now though. They've had a big change in their counter-parties with CNQ taking over Painted Pony, and a US major taking over another Canadian company; so the quality of their counter-parties has risen. What's also missed in their story is their steady utility growth in the U.S. where they were slammed for buying that utility, but those critics are now gone as ALA is enjoying steady 8% rate-based growth to boost ROE and deleverage their balance sheet a lot. He expects a dividend increase soon. He likes it and it remains one of his biggest holdings.

WEAK BUY

Acquisition took leverage up to uncomfortable levels, fire sale, cut dividend. Back on more sustainable footing. Dividend now safe and secure. Mostly a utility, with exposure to nat gas. Good place for an income play, but no robust capital appreciation potential. If you want upside exposure to nat gas, look to TOU, PEY, or others.

BUY

Nice dividend and excellent valuation. Utility and mid-stream business is doing well. Can own it here.

PAST TOP PICK

(A Top Pick Sep 25/20, Up 15%)Preferred Shares K (ALA-PR-K). Played defense while still getting some return. An alternative to cash. Can be a source of cash for future buys.

DON'T BUY

The pipelines have been secondary beneficiaries of higher oil prices. Have just started to hold their own. It is more like a utility. They will be more interest rate sensitive. Rates have begun to rise. Yielding 4%. The spread is narrowing. Inflation also makes the dividend not very large. Will probably continue to move sideways.

WEAK BUY

Pays a safe, good 4% yield. Any infrastructure company carries a lot of debt, and ALA is doing okay. Good price momentum and low volatility. He'd like to see more growth though. Stable overall. You won't go wrong collecting the dividend.

BUY

One of his favourites. He'd buy it here. Tremendous growth in its core utilities, unappreciated by the market. Midstream assets in Western Canada are very positive. New management is doing well. Should see steady increases in the dividend. Better things ahead.

WAIT

Near term, energy appears to be consolidating. Infrastructure companies have had a great run, and will take time to consolidate. Longer-term, probably a good investment. Correction only started in last couple of weeks, so this may take some time.

BUY

Still likes it. Pays a good dividend. He still sees value in the energy sector as a whole, as oil and natural gas prices will hold. [Note: audio problems]

HOLD

Delevered the balance sheet. She owns other utilities. If you own it, it's a good income stock. Attractive yield.

PAST TOP PICK

(A Top Pick Apr 06/20, Up 94%) Finally the stock is getting the right mix of management pulling the right strings and time passing so that some of the thesis was being allowed to play out. It is still his largest position, thinking there is lots of good things ahead for the company.

BUY

Allan Tong’s Discover Picks AltaGas is finally winning as it deleverages and enjoys a rise in nat gas prices, from $2.03/MMBtu in 2020 to $3.04 this year and expected to be $3.11 in 2022. AltaGas’s EPS growth is declining, but at $1.74 it’s still above the $1.31 industry standard. Book value and cash flow are also above its peers. Same goes with ROE, ROI and its margins: 10.24% profit margin vs. the industry’s 9.5%. ALA’s P/E of 12.4x is just a tick above the industry standard, but analysts foresee strong growth ahead at a higher forward P/E of 13.65x. Speaking of which, ALA stock’s revenue growth in 2020 was 10.13%, which outpaced the industry’s 9.64%. Read 2 Rising Canadian Price Targets: AltaGas & Aecon for our full analysis.

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