Scotiabank Has Positive Forecast for AltaGas FY2026 Earnings

Key Points

• Scotiabank raised its FY2026 EPS forecast for AltaGas to C$2.49 from C$2.45, above the C$2.30 consensus estimate, while maintaining a “Sector Outperform” rating and C$62 price target.
• Several brokerages recently increased their price targets, with AltaGas receiving eight Buy ratings and an overall “Buy” consensus rating. The average analyst target is C$56.56.
• AltaGas reported quarterly EPS of C$0.31 on C$3.80 billion in revenue and pays a quarterly dividend of C$0.334, equivalent to an annualized C$1.34 dividend and a 2.5% yield.

AltaGas Ltd. (TSE:ALA - Free Report) - Research analysts at Scotiabank upped their FY2026 earnings per share (EPS) estimates for AltaGas in a research report issued on Tuesday, August 4th. Scotiabank analyst R. Hope now forecasts that the company will post earnings per share of $2.49 for the year, up from their previous forecast of $2.45. Scotiabank currently 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.

A number of other brokerages have also commented on ALA. BMO Capital Markets raised their price target on AltaGas from C$54.00 to C$59.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Royal Bank Of Canada upped their price objective on shares of AltaGas from C$55.00 to C$59.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. ATB Cormark Capital Markets raised their target price on shares of AltaGas from C$60.00 to C$63.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. JPMorgan Chase & Co. lifted their target price on shares of AltaGas from C$49.00 to C$52.00 in a research note on Tuesday, April 14th. Finally, National Bank Financial boosted their price target on shares of AltaGas from C$52.00 to C$60.00 and gave the company an "outperform" rating in a research report on Monday, June 1st. Eight equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, AltaGas has an average rating of "Buy" and a consensus target price of C$56.56.

AltaGas Price Performance

ALA opened at C$53.88 on Friday. The company has a debt-to-equity ratio of 112.99, a quick ratio of 0.43 and a current ratio of 0.86. AltaGas has a 52-week low of C$39.45 and a 52-week high of C$57.52. The stock has a market capitalization of C$16.81 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of -4.97 and a beta of 0.33. The stock's 50 day moving average price is C$54.54 and its 200-day moving average price is C$50.03.

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

AltaGas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were paid a $0.334 dividend. This represents a $1.34 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, June 16th. AltaGas's dividend payout ratio is presently 65.56%.

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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