EMB170 pilot reported receiving a low altitude alert from ATC during approach. Flight crew returned to stable approach profile for a normal landing.

Narrative

I was the pilot monitoring for the RNAV XX to ZZZ. After ZZZZZ; ATC stated 'Aircraft X check altitude immediately; altimeter setting XX.XX'. At the same time we received an 'obstacle' announcement in the aircraft. The approach was being hand flown at this point in order to get configured. I was looking outside initially when we received the ATC message and obstacle announcement; and when I looked inside I saw 1/4 scale low deflection on the path. I am a low time FO so my visual references aren't perfect; but when I was eyes outside it appeared we were in a good position in relation to the runway. By the time I completed my instrument scan immediately following the ATC transmission; we were stable. During the debrief neither of us could pinpoint what caused the occasion other than a possible momentary increase in descent rate; or improper visual reference.Suggestions: This was my first time doing this approach in to ZZZ. I was the PF for this same approach later in the day and reviewed the FOQA page in depth. I think having spent more time reviewing for the approach and understanding it would have helped for this report.