Scotiabank Has Negative Forecast for AltaGas FY2026 Earnings

Key Points

• Scotiabank lowered its FY2026 EPS forecast for AltaGas to C$2.45 from C$2.46, while maintaining a “Sector Outperform” rating and C$62.00 price target. The revised estimate remains above the consensus forecast of C$2.30.
• AltaGas reported quarterly EPS of C$1.33 on revenue of C$3.97 billion, with a 4.02% net margin and 5.92% return on equity.
• Analyst sentiment remains positive: seven analysts rate AltaGas a Buy, with a consensus rating of “Buy” and an average price target of C$54.88. Shares recently opened at C$57.18, near their one-year high of C$57.52, and the company pays an annualized C$1.34 dividend yielding about 2.3%.

AltaGas Ltd. (TSE:ALA - Free Report) - Research analysts at Scotiabank reduced their FY2026 EPS estimates for AltaGas in a report issued on Thursday, July 23rd. Scotiabank analyst R. Hope now anticipates that the company will earn $2.45 per share for the year, down from their prior estimate of $2.46. Scotiabank currently has a "Sector Outperform" rating and a $62.00 target price on the stock. The consensus estimate for AltaGas' current full-year earnings is $2.30 per share.

AltaGas (TSE:ALA - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported C$1.33 earnings per share (EPS) for the quarter. The company had revenue of C$3.97 billion for the quarter. AltaGas had a net margin of 4.02% and a return on equity of 5.92%.

A number of other research firms have also recently weighed in on ALA. JPMorgan Chase & Co. boosted their target price on shares of AltaGas from C$49.00 to C$52.00 in a research note on Tuesday, April 14th. ATB Cormark Capital Markets raised their price objective on AltaGas from C$54.00 to C$56.00 and gave the company an "outperform" rating in a report on Friday, May 1st. National Bank Financial boosted their price objective on AltaGas from C$52.00 to C$60.00 and gave the stock an "outperform" rating in a research report on Monday, June 1st. Finally, Royal Bank Of Canada boosted their price objective on AltaGas from C$50.00 to C$55.00 and gave the stock an "outperform" rating in a research report on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, AltaGas has a consensus rating of "Buy" and an average price target of C$54.88.

AltaGas Price Performance

Shares of TSE:ALA opened at C$57.18 on Monday. AltaGas has a one year low of C$39.45 and a one year high of C$57.52. The company has a debt-to-equity ratio of 115.95, a current ratio of 0.88 and a quick ratio of 0.43. The company has a market cap of C$17.82 billion, a price-to-earnings ratio of 34.87, a PEG ratio of -4.97 and a beta of 0.35. The firm has a 50 day simple moving average of C$54.27 and a 200 day simple moving average of C$49.11.

AltaGas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.334 per share. This represents a $1.34 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, June 16th. AltaGas's payout ratio is presently 77.99%.

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. Natural gas is sold and purchased for both commercial and industrial users.

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