AltaGas (TSE:ALA) Given New C$57.00 Price Target at Scotiabank

AltaGas (TSE:ALA) had its target price increased by Scotiabank from C$54.00 to C$57.00 in a research note published on Friday morning,BayStreet.CA reports. The firm currently has a sector outperform rating on the stock. Scotiabank also issued estimates for AltaGas’ FY2026 earnings at $2.46 EPS.

Other equities research analysts also recently issued reports about the stock. National Bank Financial raised their price target on shares of AltaGas from C$51.00 to C$52.00 and gave the company an “outperform” rating in a research note on Friday. Royal Bank Of Canada upped their target price on AltaGas from C$50.00 to C$55.00 and gave the stock an “outperform” rating in a report on Friday. ATB Cormark Capital Markets upped their target price on AltaGas from C$54.00 to C$56.00 and gave the stock an “outperform” rating in a report on Friday. JPMorgan Chase & Co. upped their target price on AltaGas from C$49.00 to C$52.00 in a report on Tuesday, April 14th. Finally, Jefferies Financial Group lifted their target price on shares of AltaGas from C$49.00 to C$53.00 in a research report on Monday, March 9th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat.com, AltaGas has an average rating of “Buy” and an average target price of C$53.25.

AltaGas Price Performance

Shares of ALA traded up C$1.29 during mid-day trading on Friday, reaching C$52.20. The company had a trading volume of 1,195,935 shares, compared to its average volume of 1,021,574. The company’s 50 day simple moving average is C$48.13 and its 200 day simple moving average is C$44.23. AltaGas has a 1-year low of C$37.08 and a 1-year high of C$52.50. The company has a debt-to-equity ratio of 115.95, a quick ratio of 0.44 and a current ratio of 0.88. The company has a market capitalization of C$16.24 billion, a price-to-earnings ratio of 21.05, a P/E/G ratio of -4.97 and a beta of 0.34.

AltaGas (TSE:ALA) last posted its quarterly earnings results on Thursday, April 30th. The company reported C$1.33 earnings per share for the quarter. AltaGas had a net margin of 4.02% and a return on equity of 5.92%. The company had revenue of C$3.97 billion for the quarter. Analysts expect that AltaGas will post 2.3006093 EPS for the current year.

AltaGas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were given a dividend of $0.334 per share. The ex-dividend date was Monday, March 16th. This represents a $1.34 annualized dividend and a yield of 2.6%. This is a boost from AltaGas’s previous quarterly dividend of $0.32. AltaGas’s dividend payout ratio is 50.81%.

Key AltaGas News

Here are the key news stories impacting AltaGas this week:

• Positive Sentiment: Record Q1 results and outlook improvement — AltaGas reported C$1.33 EPS on C$3.97B revenue, highlighted a solid net margin and ROE, and raised 2026 capital spending guidance; this underpins the bullish tone from analysts. View Press Release
• Positive Sentiment: ATB Cormark raised its price target to C$56 and maintained an “outperform” rating, signaling further upside in analyst estimates. BayStreet.CA
• Positive Sentiment: RBC increased its target to C$55 and kept an “outperform” rating, adding institutional weight to the rally. BayStreet.CA
• Positive Sentiment: Scotiabank bumped its target to C$57 with a “sector outperform” call, the highest of the recent upgrades and a clear vote of confidence. BayStreet.CA
• Positive Sentiment: Business development catalyst — AltaGas is expanding propane customer reach in Asia amid ongoing supply shocks, which supports international demand dynamics for its commodity-linked businesses. Expansion Article
• Neutral Sentiment: National Bank Financial raised its target to C$52 (from C$51) but that target sits slightly below the current market price, making its impact mixed. BayStreet.CA
• Neutral Sentiment: Media coverage and inclusion in investor “top picks” lists and 52-week-high roundups add retail/institutional visibility but are secondary to fundamentals and analyst views. MSN Yahoo

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.