Scotiabank Has Negative Forecast for AltaGas FY2025 Earnings

AltaGas Ltd. (TSE:ALA) – Equities research analysts at Scotiabank dropped their FY2025 earnings per share estimates for AltaGas in a research report issued on Wednesday, January 8th. Scotiabank analyst R. Hope now anticipates that the company will post earnings of $2.24 per share for the year, down from their prior forecast of $2.43. Scotiabank currently has a “Outperform” rating and a $39.00 price target on the stock. The consensus estimate for AltaGas’ current full-year earnings is $2.30 per share.

A number of other equities analysts also recently weighed in on the stock. Jefferies Financial Group lifted their target price 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 price objective on AltaGas and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. CIBC upped their target price on AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research report on Thursday. Royal Bank of Canada lifted their target price on AltaGas from C$37.00 to C$40.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. cut AltaGas from an “overweight” rating to a “neutral” rating and increased their price target for the stock from C$36.00 to C$37.00 in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$38.30.

AltaGas Stock Up 1.2 %

AltaGas stock opened at C$34.36 on Friday. The firm has a market cap of C$10.22 billion, a price-to-earnings ratio of 23.70, a PEG ratio of -4.97 and a beta of 1.23. AltaGas has a 52-week low of C$26.91 and a 52-week high of C$35.77. The company has a debt-to-equity ratio of 115.50, a quick ratio of 0.44 and a current ratio of 0.85. The firm has a 50 day moving average price of C$33.64 and a two-hundred day moving average price of C$33.09.

AltaGas Dividend Announcement

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

Insider Buying and Selling at AltaGas

In related news, Senior Officer Vernon Dai-Chung Yu acquired 7,600 shares of the stock in a transaction dated Friday, December 13th. The stock was purchased at an average cost of C$32.97 per share, with a total value of C$250,549.20. Insiders own 0.58% of the company’s stock.

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.