Scotiabank Weighs in on AltaGas’ FY2025 Earnings (TSE:ALA)

AltaGas Ltd. (TSE:ALA) – Scotiabank reduced their FY2025 earnings per share (EPS) estimates for shares of AltaGas in a research note issued on Wednesday, January 8th. Scotiabank analyst R. Hope now anticipates that the company will post earnings of $2.24 per share for the year, down from their previous estimate of $2.43. Scotiabank has a “Outperform” rating and a $39.00 price objective on the stock. The consensus estimate for AltaGas’ current full-year earnings is $2.30 per share.

A number of other brokerages have also recently issued reports on ALA. CIBC raised their price objective on shares of AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research note on Thursday. Jefferies Financial Group raised their price target on AltaGas from C$37.00 to C$39.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. ATB Capital set a C$36.00 price objective on AltaGas and gave the company an “outperform” rating in a report on Tuesday, September 24th. Royal Bank of Canada increased their target price on AltaGas from C$37.00 to C$40.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. lowered AltaGas from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from C$36.00 to C$37.00 in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$38.30.

AltaGas Stock Up 1.2 %

Shares of TSE:ALA opened at C$34.36 on Friday. The company has a debt-to-equity ratio of 115.50, a current ratio of 0.85 and a quick ratio of 0.44. The stock has a market cap of C$10.22 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of -4.97 and a beta of 1.23. The company has a 50 day moving average of C$33.64 and a 200-day moving average of C$33.09. AltaGas has a one year low of C$26.91 and a one year high of C$35.77.

Insiders Place Their Bets

In other news, Senior Officer Vernon Dai-Chung Yu acquired 7,600 shares of AltaGas stock in a transaction dated Monday, November 4th. The stock was bought at an average cost of C$33.12 per share, with a total value of C$251,719.60. Corporate insiders own 0.58% of the company’s stock.

AltaGas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.298 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.19 dividend on an annualized basis and a yield of 3.47%. AltaGas’s payout ratio is 82.07%.

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.