AltaGas Stock Surges 24% YTD on Strong LPG Demand
AltaGas (TSX:ALA) stock has seen a significant surge in its price, outperforming the TSX Composite Index by a considerable margin. The utility company's stock price rose 24% year-to-date, as compared to the 15% rally of the TSX Composite Index.
The company faced a series of downturns from 2014 to 2019, followed by a recovery rally till 2025. However, in 2026, AltaGas's stock price saw a significant surge, beating the rally of other utility stocks except ATCO. The driving factor behind this surge is the strong demand for liquefied petroleum gas (LPG) in Asia.
The company has been investing heavily in natural gas transmission and has finally seen returns as natural gas prices rise and Canada increases exports to Asia. AltaGas LPG exports to Asia surged 13% year-over-year to a record 144,420 barrel/day in the second quarter of 2026.