AltaGas (ALA) to Release Earnings on Thursday

AltaGas (TSE:ALA - Get Free Report) will issue its quarterly earnings data before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of C$1.04 per share for the quarter.

AltaGas (TSE:ALA - Get Free Report) last issued its earnings results on Friday, March 8th. The company reported C$0.75 EPS for the quarter, hitting analysts' consensus estimates of C$0.75. The firm had revenue of C$3.29 billion during the quarter, compared to the consensus estimate of C$4.11 billion. AltaGas had a net margin of 5.18% and a return on equity of 8.90%.

AltaGas Stock Up 0.1 %

ALA traded up C$0.02 during trading hours on Thursday, reaching C$30.22. 578,885 shares of the stock traded hands, compared to its average volume of 791,606. The firm's fifty day simple moving average is C$29.27 and its two-hundred day simple moving average is C$27.99. The company has a market cap of C$8.92 billion, a price-to-earnings ratio of 13.37, a PEG ratio of -4.97 and a beta of 1.22. AltaGas has a fifty-two week low of C$22.57 and a fifty-two week high of C$30.32. The company has a debt-to-equity ratio of 125.64, a current ratio of 0.89 and a quick ratio of 0.44.

AltaGas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.298 per share. This is a positive change from AltaGas's previous quarterly dividend of $0.28. This represents a $1.19 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend was Thursday, March 14th. AltaGas's dividend payout ratio (DPR) is currently 52.65%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ALA. Jefferies Financial Group set a C$34.00 price target on shares of AltaGas and gave the stock a "buy" rating in a research report on Tuesday, February 27th. National Bankshares raised their price target 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. Scotiabank raised their price target on shares of AltaGas from C$31.00 to C$33.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 24th. CIBC raised their price target 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. Finally, TD Securities raised their price target 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. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AltaGas currently has an average rating of "Buy" and an average price target of C$33.75.

Insider Transactions at AltaGas

In other news, Director Jeremy Jason Weatherhead sold 12,215 shares of AltaGas stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of C$29.60, for a total value of C$361,564.00. In related news, Senior Officer Randy Warren Toone sold 40,000 shares of the business's stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of C$29.18, for a total transaction of C$1,167,200.00. Also, Director Jeremy Jason Weatherhead sold 12,215 shares of the business's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of C$29.60, for a total transaction of C$361,564.00. Insiders have sold 68,239 shares of company stock valued at $2,002,672 in the last quarter. Insiders own 0.57% of the company's stock.

About AltaGas

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.