Atb Cap Markets Brokers Raise Earnings Estimates for AltaGas

AltaGas Ltd. (TSE:ALA - Free Report) - Atb Cap Markets raised their Q1 2025 earnings per share estimates for AltaGas in a report released on Wednesday, April 23rd. Atb Cap Markets analyst N. Heywood now expects that the company will post earnings of $1.13 per share for the quarter, up from their prior estimate of $1.12. The consensus estimate for AltaGas' current full-year earnings is $2.30 per share.

ALA has been the subject of several other research reports. Jefferies Financial Group raised their price target on shares of AltaGas from C$38.00 to C$40.00 in a research report on Wednesday. CIBC lifted their target price on AltaGas from C$40.00 to C$42.00 and gave the stock an "outperform" rating in a report on Thursday, January 9th. Scotiabank upped their price target on AltaGas from C$40.00 to C$42.00 in a report on Monday, March 10th. Finally, JPMorgan Chase & Co. lifted their price objective on AltaGas from C$39.00 to C$41.00 in a report on Monday, April 21st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$39.67.

AltaGas Stock Performance

TSE:ALA remained flat at C$40.22 on Monday. 84,453 shares of the company's stock were exchanged, compared to its average volume of 889,918. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26. The firm has a market capitalization of C$11.97 billion, a P/E ratio of 23.31, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. AltaGas has a 1-year low of C$29.67 and a 1-year high of C$40.98. The stock's 50 day moving average is C$38.24 and its two-hundred day moving average is C$35.47.

AltaGas (TSE:ALA - Get Free Report) last issued its quarterly earnings results on Friday, March 7th. The company reported C$0.76 earnings per share for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%.

Insiders Place Their Bets

In other news, Senior Officer Corine Renae Knight Bushfield sold 144,064 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of C$38.00, for a total transaction of C$5,474,432.00. Also, Director Peter James Ledig sold 25,200 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of C$38.35, for a total value of C$966,420.00. Over the last three months, insiders have sold 398,414 shares of company stock valued at $15,302,227. Insiders own 0.58% of the company's stock.

AltaGas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were issued a $0.315 dividend. This is an increase from AltaGas's previous quarterly dividend of $0.30. The ex-dividend date was Monday, March 17th. This represents a $1.26 dividend on an annualized basis and a yield of 3.13%. AltaGas's dividend payout ratio is currently 68.98%.

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.