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    The Bull Case For AltaGas (TSX:ALA) Could Change Following RIPET Labour Deal And Export Resilience

    Simply Wall St·01/04/2026 23:24:05
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    • AltaGas Ltd. previously reached a new five-year labour agreement with the International Longshore and Warehouse Union Local 523B at the Ridley Island Propane Export Terminal, ending a 28-day disruption and bringing union employees back to work on December 25 while keeping exports running.
    • By sustaining uninterrupted propane exports to more than 70 customers during the strike, AltaGas underlined RIPET’s role in supporting Canada–Asia energy trade and reliability.
    • We’ll now examine how restoring long-term labour stability at RIPET may influence AltaGas’s investment narrative and future earnings visibility.

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    AltaGas Investment Narrative Recap

    To own AltaGas, you need to believe in its mix of regulated utilities and export-focused midstream assets, with RIPET as a key earnings driver. The new five-year labour deal meaningfully reduces near term operational risk at the terminal, supporting one of AltaGas’s most important catalysts: consistent LPG export volumes, even as policy and decarbonization risks remain the bigger long term overhang.

    Against this backdrop, the 6% increase to the 2026 annual dividend to C$1.34 per share stands out, because it signals management’s confidence in cash flow durability from both utilities and the export platform that includes RIPET.

    But while RIPET’s labour risk has eased, investors should still be aware of how exposed AltaGas remains to Western Canada supply and Asian LPG demand...

    Read the full narrative on AltaGas (it's free!)

    AltaGas' narrative projects CA$14.7 billion revenue and CA$756.5 million earnings by 2028. This requires 4.8% yearly revenue growth and an earnings decrease of about CA$22.5 million from CA$779.0 million today.

    Uncover how AltaGas' forecasts yield a CA$47.00 fair value, a 11% upside to its current price.

    Exploring Other Perspectives

    TSX:ALA 1-Year Stock Price Chart
    TSX:ALA 1-Year Stock Price Chart

    Four members of the Simply Wall St Community currently see AltaGas’s fair value between C$35 and about C$73 per share, a very wide spread of opinions. When you weigh those views against AltaGas’s rising capital needs and policy risks, it underlines why you may want to compare multiple perspectives before deciding how this stock could fit your portfolio.

    Explore 4 other fair value estimates on AltaGas - why the stock might be worth as much as 73% more than the current price!

    Build Your Own AltaGas Narrative

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.