Scotiabank Issues Pessimistic Forecast for AltaGas Earnings

AltaGas Ltd. (TSE:ALA) – Scotiabank reduced their FY2025 earnings per share estimates for AltaGas in a research note issued on Friday, January 23rd. Scotiabank analyst R. Hope now expects that the company will post earnings of $2.18 per share for the year, down from their prior forecast of $2.23. The consensus estimate for AltaGas’ current full-year earnings is $2.30 per share. Scotiabank also issued estimates for AltaGas’ FY2027 earnings at $2.62 EPS.

AltaGas (TSE:ALA) last issued its quarterly earnings results on Thursday, October 30th. The company reported C($0.08) earnings per share for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%.The business had revenue of C$2.60 billion during the quarter.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of AltaGas from C$45.00 to C$47.00 in a research report on Wednesday, December 3rd. CIBC lifted their price objective on AltaGas from C$47.00 to C$50.00 in a research note on Wednesday, December 17th. Jefferies Financial Group upped their target price on AltaGas from C$47.00 to C$48.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. National Bankshares raised their target price on AltaGas from C$46.00 to C$50.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Finally, ATB Capital lifted their price target on AltaGas from C$48.00 to C$49.00 and gave the company an “outperform” rating in a research report on Tuesday, December 23rd. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$48.11.

AltaGas Stock Up 1.7%

ALA stock opened at C$41.58 on Monday. The company has a market capitalization of C$12.94 billion, a P/E ratio of 16.70, a price-to-earnings-growth ratio of -4.97 and a beta of 0.43. AltaGas has a 12 month low of C$32.14 and a 12 month high of C$44.37. The firm’s fifty day simple moving average is C$41.84 and its 200-day simple moving average is C$41.74. The company has a debt-to-equity ratio of 135.26, a current ratio of 1.03 and a quick ratio of 0.44.

AltaGas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were paid a $0.315 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $1.26 dividend on an annualized basis and a yield of 3.0%. AltaGas’s dividend payout ratio (DPR) is currently 49.90%.

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.