Scotiabank Issues Pessimistic Outlook for AltaGas Earnings

AltaGas Ltd. (TSE:ALA) – Analysts at Scotiabank lowered their FY2026 earnings per share estimates for AltaGas in a note issued to investors on Thursday, July 23rd. Scotiabank analyst R. Hope now forecasts that the company will post earnings per share of $2.45 for the year, down from their previous forecast of $2.46. Scotiabank currently has a “Sector Outperform” rating and a $62.00 price target on the stock. The consensus estimate for AltaGas’ current full-year earnings is $2.30 per share.

Several other research analysts have also recently issued reports on the stock. ATB Cormark Capital Markets increased their price target on shares of AltaGas from C$54.00 to C$56.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. JPMorgan Chase & Co. lifted their price objective on AltaGas from C$49.00 to C$52.00 in a report on Tuesday, April 14th. National Bank Financial boosted their target price on AltaGas from C$52.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Finally, Royal Bank Of Canada increased their target price on AltaGas from C$50.00 to C$55.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$54.88.

AltaGas Stock Down 1.3%

ALA stock opened at C$55.51 on Monday. The stock has a market capitalization of C$17.29 billion, a PE ratio of 33.85, a price-to-earnings-growth ratio of -4.97 and a beta of 0.35. The company has a fifty day moving average of C$54.36 and a 200-day moving average of C$49.32. The company has a debt-to-equity ratio of 115.95, a quick ratio of 0.43 and a current ratio of 0.88. AltaGas has a one year low of C$39.45 and a one year high of C$57.52.

AltaGas (TSE:ALA) last announced its quarterly earnings data on Thursday, April 30th. The company reported C$1.33 earnings per share (EPS) for the quarter. The company had revenue of C$3.97 billion for the quarter. AltaGas had a net margin of 4.02% and a return on equity of 5.92%.

AltaGas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a $0.334 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Tuesday, June 16th. AltaGas’s dividend payout ratio (DPR) is currently 77.99%.

AltaGas Company Profile

AltaGas Ltd owns and operates a diversified basket of energy infrastructure businesses. Business is conducted through four segments: Midstream, power, utilities and corporate. Utility business owns and operates rate-regulated natural gas distribution assets across North America. Midstream business subsequent to the sale of non-core midstream assets in Canada and also engaged in the natural gas liquid processing and extraction, transportation, and storage. Natural gas is sold and purchased for both commercial and industrial users.