AltaGas Ltd. (TSE:ALA - Free Report) - Atb Cap Markets dropped their Q1 2024 EPS estimates for shares of AltaGas in a report released on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now expects that the company will post earnings of $1.03 per share for the quarter, down from their prior forecast of $1.04. The consensus estimate for AltaGas' current full-year earnings is $2.15 per share. Atb Cap Markets also issued estimates for AltaGas' FY2024 earnings at $2.10 EPS.
AltaGas (TSE:ALA - Get Free Report) last released its quarterly earnings results on Friday, March 8th. The company reported C$0.75 EPS for the quarter, hitting analysts' consensus estimates of C$0.75. AltaGas had a net margin of 5.18% and a return on equity of 8.90%. The company had revenue of C$3.29 billion for the quarter, compared to the consensus estimate of C$4.11 billion.
Other research analysts also recently issued reports about the stock. Jefferies Financial Group set a C$34.00 target price on shares of AltaGas and gave the stock a "buy" rating in a research report on Tuesday, February 27th. CIBC lifted their target price on shares of AltaGas from C$34.00 to C$36.00 and gave the stock an "outperform" rating in a research report on Friday, December 29th. TD Securities lifted their target price on shares of AltaGas from C$32.00 to C$34.00 and gave the stock a "buy" rating in a research report on Monday, March 11th. National Bankshares lifted their target price on shares of AltaGas from C$31.00 to C$33.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 30th. Finally, Scotiabank boosted their price objective on shares of AltaGas from C$31.00 to C$33.00 and gave the company an "outperform" rating in a research report on Wednesday, January 24th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of C$33.75.
Check Out Our Latest Research Report on ALA
AltaGas Price Performance
Shares of TSE ALA traded up C$0.02 during midday trading on Thursday, reaching C$30.22. The company's stock had a trading volume of 578,885 shares, compared to its average volume of 791,606. The company has a current ratio of 0.89, a quick ratio of 0.44 and a debt-to-equity ratio of 125.64. The company has a 50 day moving average price of C$29.27 and a 200 day moving average price of C$27.99. AltaGas has a one year low of C$22.57 and a one year high of C$30.32. The company has a market cap of C$8.92 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of -4.97 and a beta of 1.22.
Insider Transactions at AltaGas
In related news, Senior Officer Randy Warren Toone sold 16,000 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of C$29.58, for a total transaction of C$473,200.00. In other AltaGas news, Director Jeremy Jason Weatherhead sold 12,215 shares of the firm's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of C$29.60, for a total value of C$361,564.00. Also, Senior Officer Randy Warren Toone sold 16,000 shares of the firm's stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of C$29.58, for a total transaction of C$473,200.00. In the last three months, insiders sold 68,239 shares of company stock valued at $2,002,672. Company insiders own 0.57% of the company's stock.
AltaGas Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.94%. This is an increase from AltaGas's previous quarterly dividend of $0.28. The ex-dividend date was Thursday, March 14th. AltaGas's dividend payout ratio (DPR) is presently 52.65%.
About AltaGas
(
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AltaGas Ltd. operates as an energy infrastructure company in North America. The company operates through Utilities and Midstream segments. The Utilities segment owns and operates franchised, cost-of-service, rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.6 million customers.
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