Scotiabank Issues Pessimistic Forecast for AltaGas Earnings

AltaGas Ltd. (TSE:ALA - Free Report) - Research analysts at Scotiabank lowered their FY2025 EPS estimates for shares of AltaGas in a report released on Wednesday, January 8th. Scotiabank analyst R. Hope now forecasts that the company will post earnings per share of $2.24 for the year, down from their previous estimate of $2.43. Scotiabank currently has a "Outperform" rating and a $39.00 target price on the stock. The consensus estimate for AltaGas' current full-year earnings is $2.30 per share.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered shares of AltaGas from an "overweight" rating to a "neutral" rating and upped their target price for the stock from C$36.00 to C$37.00 in a research note on Wednesday, October 23rd. Royal Bank of Canada raised their price target on shares of AltaGas from C$37.00 to C$40.00 and gave the stock an "outperform" rating in a research note on Thursday, October 3rd. Jefferies Financial Group increased their price objective on shares of AltaGas from C$37.00 to C$39.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. ATB Capital set a C$36.00 target price on shares of AltaGas and gave the company an "outperform" rating in a research note on Tuesday, September 24th. Finally, CIBC boosted their price target on AltaGas from C$40.00 to C$42.00 and gave the stock an "outperform" rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$38.30.

AltaGas Stock Up 1.2 %

ALA traded up C$0.42 during trading on Friday, reaching C$34.36. The company had a trading volume of 1,081,266 shares, compared to its average volume of 833,520. The business's fifty day moving average price is C$33.63 and its 200 day moving average price is C$33.08. The company has a debt-to-equity ratio of 115.50, a current ratio of 0.85 and a quick ratio of 0.44. AltaGas has a 12 month low of C$26.91 and a 12 month high of C$35.77. The company has a market cap of C$10.22 billion, a P/E ratio of 23.70, a PEG ratio of -4.97 and a beta of 1.23.

AltaGas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were given a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date was Monday, December 16th. AltaGas's dividend payout ratio is 82.07%.

Insider Activity at AltaGas

In related news, Senior Officer Vernon Dai-Chung Yu acquired 7,600 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average cost of C$32.97 per share, for a total transaction of C$250,549.20. 0.58% of the stock is owned by insiders.

AltaGas Company Profile

AltaGas Ltd. operates as an energy infrastructure company in North America. The company operates through Utilities and Midstream segments. The Utilities segment owns and operates franchised, cost-of-service, rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.6 million customers.