Scotiabank Issues Pessimistic Outlook for AltaGas Earnings

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

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

ALA has been the topic of several other reports. JPMorgan Chase & Co. upped their target price on AltaGas from C$49.00 to C$52.00 in a report on Tuesday, April 14th. ATB Cormark Capital Markets boosted their price target on shares of AltaGas from C$54.00 to C$56.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Royal Bank Of Canada upped their price objective on shares of AltaGas from C$50.00 to C$55.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Finally, National Bank Financial upped their price objective on shares of AltaGas from C$52.00 to C$60.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$54.88.

AltaGas Price Performance

Shares of ALA opened at C$57.18 on Monday. The business has a 50-day moving average of C$54.27 and a 200-day moving average of C$49.11. The company has a debt-to-equity ratio of 115.95, a current ratio of 0.88 and a quick ratio of 0.43. The company has a market capitalization of C$17.82 billion, a price-to-earnings ratio of 34.87, a price-to-earnings-growth ratio of -4.97 and a beta of 0.35. AltaGas has a 1 year low of C$39.45 and a 1 year high of C$57.52.

AltaGas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a $0.334 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, June 16th. AltaGas’s payout ratio is currently 77.99%.

About AltaGas

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.