J P M O R G A N Neutral ALA.TO, ALA CN Price (29 Jul 26):C$55.27 North America Equity Research 30 July 2026 AltaGas Ltd 2Q EBITDA Ahead; Strong LPG Exports Power Guidance Bump; Midstream Platform Expansions Underway ALA reported 2Q26 normalized EBITDA of $391mm, above the $351/350mm JPMe/Street median. Midstream generated $285mm of EBITDA (+$44mm vs JPMe), driven by record global export volumes and margins, robust Pipestone II contributions, and increased throughput at Townsend and North Pine. Utilities con ...