Scotiabank Has Negative Forecast for AltaGas FY2025 Earnings

AltaGas Ltd. (TSE:ALA) – Equities research analysts at Scotiabank cut their FY2025 earnings per share (EPS) estimates for AltaGas in a research report issued to clients and investors on Wednesday, March 19th. Scotiabank analyst R. Hope now forecasts that the company will earn $2.22 per share for the year, down from their prior estimate of $2.24. The consensus estimate for AltaGas’ current full-year earnings is $2.30 per share. Scotiabank also issued estimates for AltaGas’ FY2026 earnings at $2.49 EPS.

Separately, CIBC raised their price objective on AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$39.11.

AltaGas Stock Performance

AltaGas stock opened at C$39.05 on Monday. The stock has a market cap of C$11.62 billion, a price-to-earnings ratio of 22.63, a PEG ratio of -4.97 and a beta of 1.23. The stock’s 50 day simple moving average is C$35.57 and its two-hundred day simple moving average is C$34.47. AltaGas has a fifty-two week low of C$28.76 and a fifty-two week high of C$39.28. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03.

AltaGas (TSE:ALA) last announced its quarterly earnings results on Friday, March 7th. The company reported C$0.76 earnings per share (EPS) for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%.

AltaGas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be given a dividend of $0.315 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.26 annualized dividend and a dividend yield of 3.23%. This is a boost from AltaGas’s previous quarterly dividend of $0.30. AltaGas’s dividend payout ratio (DPR) is presently 68.98%.

Insider Activity

In other news, Senior Officer Donald Mark Jenkins sold 12,352 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of C$33.90, for a total value of C$418,732.80. Also, Senior Officer Corine Renae Knight Bushfield sold 144,064 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of C$38.00, for a total transaction of C$5,474,432.00. Insiders have sold a total of 305,405 shares of company stock worth $11,580,506 over the last quarter. Insiders own 0.58% of the company’s stock.

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.