What is Scotiabank's Forecast for AltaGas FY2027 Earnings?

Key Points

• Scotiabank raised its FY2027 EPS forecast for AltaGas to C$2.65 from C$2.62, above the broader consensus estimate of C$2.30. The bank maintained a “Sector Outperform” rating and a C$62 price target.
• Analyst sentiment remains positive, with AltaGas holding a consensus “Buy” rating and an average price target of C$56.56; several firms recently increased their targets to between C$59 and C$63.
• 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 and a 2.5% yield.

AltaGas Ltd. (TSE:ALA - Free Report) - Stock analysts at Scotiabank lifted their FY2027 earnings estimates for AltaGas in a research report issued on Tuesday, August 4th. Scotiabank analyst R. Hope now forecasts that the company will post earnings of $2.65 per share for the year, up 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.

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

AltaGas Stock Down 4.7%

ALA opened at C$52.97 on Thursday. AltaGas has a twelve month low of C$39.45 and a twelve month high of C$57.52. The firm's 50-day simple moving average is C$54.54 and its 200-day simple moving average is C$49.94. The company has a debt-to-equity ratio of 112.99, a quick ratio of 0.43 and a current ratio of 0.86. The firm has a market cap of C$16.53 billion, a price-to-earnings ratio of 26.75, a PEG ratio of -4.97 and a beta of 0.33.

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

AltaGas Announces Dividend

The business 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. The ex-dividend date was Tuesday, June 16th. This represents a $1.34 annualized dividend and a dividend yield of 2.5%. AltaGas's dividend payout ratio is presently 65.56%.

About AltaGas

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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