FY2025 Earnings Forecast for AltaGas Issued By Scotiabank

AltaGas Ltd. (TSE:ALA) – Research analysts at Scotiabank lowered their FY2025 earnings estimates for AltaGas in a report released on Wednesday, January 8th. Scotiabank analyst R. Hope now forecasts that the company will earn $2.24 per share for the year, down from their prior estimate of $2.43. Scotiabank 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 research analysts have also issued reports on the stock. Jefferies Financial Group upped their price objective on shares of AltaGas from C$37.00 to C$39.00 and gave the company a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. lowered shares of AltaGas from an “overweight” rating to a “neutral” rating and lifted their price target for the company from C$36.00 to C$37.00 in a research report on Wednesday, October 23rd. Royal Bank of Canada increased their price objective on AltaGas from C$37.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. ATB Capital set a C$36.00 price target on AltaGas and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Finally, CIBC raised their price objective on AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$38.30.

AltaGas Stock Performance

TSE ALA opened at C$33.94 on Friday. AltaGas has a fifty-two week low of C$26.91 and a fifty-two week high of C$35.77. The firm has a market capitalization of C$10.09 billion, a P/E ratio of 23.41, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The stock’s fifty day moving average is C$33.63 and its two-hundred day moving average is C$33.08. The company has a debt-to-equity ratio of 115.50, a quick ratio of 0.44 and a current ratio of 0.85.

Insider Buying and Selling at AltaGas

In other AltaGas news, Senior Officer Vernon Dai-Chung Yu bought 7,600 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of C$32.97 per share, for a total transaction of C$250,549.20. Insiders own 0.58% of the company’s stock.

AltaGas Dividend Announcement

The company also recently declared 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. This represents a $1.19 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Monday, December 16th. AltaGas’s dividend payout ratio (DPR) is presently 82.07%.

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.