Scotiabank Weighs in on AltaGas’ FY2026 Earnings (TSE:ALA)

AltaGas Ltd. (TSE:ALA) – Equities research analysts at Scotiabank lifted their FY2026 EPS estimates for AltaGas in a research note issued to investors on Monday, November 2nd. Scotiabank analyst R. Hope now forecasts that the company will post earnings of $2.54 per share for the year, up from their prior estimate of $2.53. 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) last released its quarterly earnings data on Thursday, October 29th. The company reported C$0.29 EPS for the quarter. AltaGas had a net margin of 4.33% and a return on equity of 6.83%. The company had revenue of C$3.43 billion during the quarter.

ALA has been the subject of several other research reports. Canadian Imperial Bank of Commerce cut AltaGas from an “outperformer” rating to a “hold” rating and set a C$58.00 price target for the company. in a report on Thursday, October 22nd. ATB Cormark Capital Markets boosted their price objective on AltaGas from C$60.00 to C$63.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Scotia upped their target price on AltaGas from C$61.00 to C$63.00 and gave the company a “sector outperform” rating in a report on Friday, October 30th. BMO Capital Markets raised their target price 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. Finally, National Bank Financial raised their target price on AltaGas from C$60.00 to C$61.00 and gave the stock an “outperform” rating in a research note on Friday, October 30th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, AltaGas has a consensus rating of “Moderate Buy” and an average target price of C$58.10.

AltaGas Trading Down 0.8%

Shares of AltaGas stock opened at C$54.99 on Thursday. The company has a debt-to-equity ratio of 120.38, a current ratio of 0.85 and a quick ratio of 0.43. The stock’s 50 day simple moving average is C$54.10 and its 200-day simple moving average is C$51.23. The stock has a market cap of C$17.16 billion, a P/E ratio of 27.50, a P/E/G ratio of -4.97 and a beta of 0.32. AltaGas has a 1-year low of C$39.70 and a 1-year high of C$58.14.

AltaGas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th were paid a $0.3340 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $1.34 annualized dividend and a dividend yield of 2.4%. AltaGas’s dividend payout ratio is 65.85%.

About AltaGas

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.