Equities Analysts Offer Predictions for AltaGas Q4 Earnings

AltaGas Ltd. (TSE:ALA - Free Report) - Equities research analysts at National Bank Financial issued their Q4 2024 EPS estimates for AltaGas in a research note issued to investors on Tuesday, January 28th. National Bank Financial analyst P. Kenny anticipates that the company will post earnings per share of $0.71 for the quarter. The consensus estimate for AltaGas' current full-year earnings is $2.30 per share.

AltaGas (TSE:ALA - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported C$0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.10 by C$0.04. AltaGas had a return on equity of 5.78% and a net margin of 3.58%. During the same period in the previous year, the business earned $0.10 EPS.

A number of other analysts have also recently commented on ALA. Royal Bank of Canada upped their target price on shares of AltaGas from C$37.00 to C$40.00 and gave the company an "outperform" rating in a report on Thursday, October 3rd. CIBC raised 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. JPMorgan Chase & Co. downgraded AltaGas from an "overweight" rating to a "neutral" rating and lifted their target price for the company from C$36.00 to C$37.00 in a research report on Wednesday, October 23rd. Finally, Scotiabank raised their price objective on AltaGas from C$38.00 to C$39.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, AltaGas presently has an average rating of "Moderate Buy" and a consensus target price of C$38.30.

AltaGas Stock Performance

Shares of TSE ALA traded down C$0.01 during midday trading on Thursday, hitting C$33.79. 590,682 shares of the company's stock traded hands, compared to its average volume of 699,588. The company has a debt-to-equity ratio of 115.50, a quick ratio of 0.44 and a current ratio of 0.85. The stock has a market capitalization of C$10.05 billion, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The firm has a fifty day moving average of C$33.80 and a 200 day moving average of C$33.45. AltaGas has a 1 year low of C$26.91 and a 1 year high of C$35.77.

Insider Buying and Selling at AltaGas

In other news, Senior Officer Donald Mark Jenkins sold 12,352 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of C$33.90, for a total transaction of C$418,732.80. Also, Senior Officer Vernon Dai-Chung Yu purchased 7,600 shares of AltaGas stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average price of C$32.97 per share, for a total transaction of C$250,549.20. Insiders own 0.58% of the company's stock.

AltaGas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a $0.298 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.19 annualized dividend and a yield of 3.53%. AltaGas's payout ratio is 82.07%.

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.