Scotiabank Has Pessimistic View of AltaGas FY2027 Earnings

AltaGas Ltd. (TSE:ALA) – Equities research analysts at Scotiabank reduced their FY2027 earnings estimates for shares of AltaGas in a research report issued on Thursday, October 22nd. Scotiabank analyst R. Hope now anticipates that the company will post earnings of $2.55 per share for the year, down from their previous forecast of $2.62. Scotiabank currently has a “Sector Outperform” rating and a $62.00 target price on the stock. The consensus estimate for AltaGas’ current full-year earnings is $2.30 per share.

AltaGas (TSE:ALA) last announced its quarterly earnings data on Thursday, July 30th. The company reported C$0.31 earnings per share (EPS) for the quarter. The business had revenue of C$3.80 billion during the quarter. AltaGas had a return on equity of 7.00% and a net margin of 4.59%.

Other equities research analysts also recently issued reports about the company. ATB Cormark Capital Markets raised their price target on AltaGas from C$60.00 to C$63.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Canadian Imperial Bank of Commerce cut AltaGas from an “outperformer” rating to a “hold” rating and set a C$58.00 price target for the company. in a research note on Thursday. BMO Capital Markets increased their price objective on AltaGas from C$54.00 to C$59.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Royal Bank Of Canada raised their price objective on shares of AltaGas from C$55.00 to C$59.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$57.44.

AltaGas Stock Performance

Shares of TSE ALA opened at C$55.23 on Friday. The business’s 50-day moving average price is C$53.64 and its two-hundred day moving average price is C$53.24. The company has a debt-to-equity ratio of 112.99, a current ratio of 0.86 and a quick ratio of 0.43. AltaGas has a one year low of C$39.45 and a one year high of C$57.52. The company has a market capitalization of C$17.23 billion, a P/E ratio of 27.89, a price-to-earnings-growth ratio of -4.97 and a beta of 0.32.

AltaGas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were given a $0.3340 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.4%. AltaGas’s payout ratio is currently 65.56%.

AltaGas Company Profile

AltaGas is a leading North American infrastructure company that connects customers and markets to affordable and reliable sources of energy. The Company operates a diversified, lower-risk, high-growth Utilities and Midstream business that is focused on delivering resilient and durable value for its stakeholders.