Scotiabank Has Negative Forecast for AltaGas FY2027 Earnings

Key Points

• Scotiabank lowered its FY2027 EPS forecast for AltaGas to C$2.55 from C$2.62, while maintaining a “Sector Outperform” rating and a C$62 price target.
• AltaGas reported quarterly EPS of C$0.31 on C$3.80 billion in revenue, with a 4.59% net margin and 7.00% return on equity.
• Analyst sentiment remains favorable, with seven Buy ratings and one Hold, producing a “Moderate Buy” consensus and an average target price of C$57.44. The company also pays an annualized C$1.34 dividend, yielding 2.4%.

AltaGas Ltd. (TSE:ALA - Free Report) - Research analysts at Scotiabank cut their FY2027 earnings per share (EPS) estimates for shares of AltaGas in a research report issued to clients and investors on Thursday, October 22nd. Scotiabank analyst R. Hope now anticipates that the company will post earnings per share of $2.55 for the year, down from their prior estimate of $2.62. Scotiabank has a "Sector Outperform" rating and a $62.00 price target on the stock. The consensus estimate for AltaGas' current full-year earnings is $2.30 per share.

AltaGas (TSE:ALA - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported C$0.31 EPS for the quarter. AltaGas had a net margin of 4.59% and a return on equity of 7.00%. The company had revenue of C$3.80 billion during the quarter.

Several other equities research analysts also recently commented on the stock. ATB Cormark Capital Markets upped their price target on shares of AltaGas from C$60.00 to C$63.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. BMO Capital Markets lifted their price objective on shares of AltaGas from C$54.00 to C$59.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Royal Bank Of Canada boosted their target price on shares of AltaGas from C$55.00 to C$59.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Finally, Canadian Imperial Bank of Commerce lowered AltaGas from an "outperformer" rating to a "hold" rating and set a C$58.00 target price for the company. in a report on Thursday. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, AltaGas currently has a consensus rating of "Moderate Buy" and a consensus target price of C$57.44.

AltaGas Stock Performance

Shares of ALA opened at C$55.23 on Friday. The company has a 50-day moving average of C$53.64 and a two-hundred day moving average of C$53.24. The stock has a market cap of C$17.23 billion, a price-to-earnings ratio of 27.89, a PEG ratio of -4.97 and a beta of 0.32. The company has a debt-to-equity ratio of 112.99, a current ratio of 0.86 and a quick ratio of 0.43. AltaGas has a one year low of C$39.45 and a one year high of C$57.52.

AltaGas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th were issued a $0.3340 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.4%. AltaGas's dividend payout ratio is currently 65.56%.

AltaGas Company Profile

AltaGas is a leading North American infrastructure company that connects customers and markets to affordable and reliable sources of energy. The Company operates a diversified, lower-risk, high-growth Utilities and Midstream business that is focused on delivering resilient and durable value for its stakeholders.

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