2 ASX 200 shares to buy in February
Paladin Energy and APA Group are two ASX 200 stocks investors can add to their portfolios in February, given their strong sector tailwinds and favourable long-term demand outlooks.
Paladin Energy Limited (ASX: PDN)
reported a strong December 2025 quarter and the share price is up 36% year-to-date supported by higher uranium prices while the current market capitalisation is $5.86 billion.
Uranium production increased to 1.23 million pounds of uranium oxide which represents a 16% quarter-on-quarter increase driven by higher ore feed grades and plant recoveries that reached 91%.
Sales volume of 1.43 million pounds was achieved at an average realised price of US$71.8 per pound.
Operational performance continued to improve as mining and processing activities ramped up and management reiterated that FY26 production is expected to be towards the upper end of guidance.
The company ended the quarter with a very strong balance sheet holding US$278.4 million in cash and investments while management reaffirmed that the ramp up to full mining and processing operations remains on track by the end of FY26 with full operations planned for FY27.
Paladin is well-positioned to benefit from higher uranium prices driven by tight supply as governments and utilities accelerate nuclear power adoption to secure reliable and low-carbon electricity.
APA Group (ASX: APA)
on 18 December 2025 announced a binding agreement to divest its 20% stake in the Allgas gas distribution network to Stonepeak for an estimated $64 million which simplifies the portfolio and has a negligible earnings impact as the assets contributed less than 1% of FY25 underlying EBITDA.
The company now has a market capitalisation of around $11.82 billion and reported FY25 underlying EBITDA of $2.02 billion which was up 6.4% year-on-year and it ended FY25 with a strong balance sheet and liquidity position supported by free cash flow of $1.08 billion.
The company offers a current annual yield of 6.4% and distribution per security increased to 57 cents which marked the 21st consecutive year of distribution growth.
The Underlying EBITDA is expected to rise to between $2.12 billion and $2.20 billion for FY26 while distribution guidance has been lifted to 58 cents per security.
A large proportion of APA’s revenue is linked to inflation which provides a steady level of organic growth over time as the business continues to invest regularly in new energy assets through both project development and acquisitions.
APA distributes dividends on a semi-annual basis and will announce its results for the half year ended 31 December 2025 (1H26) on 19 February 2026.
(Source: Company Announcements)
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