Atb Cap Markets Brokers Raise Earnings Estimates for AltaGas

AltaGas Ltd. (TSE:ALA - Free Report) - Atb Cap Markets boosted their Q3 2024 EPS estimates for shares of AltaGas in a research note issued to investors on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now forecasts that the company will earn $0.10 per share for the quarter, up from their previous estimate of $0.09. The consensus estimate for AltaGas' current full-year earnings is $2.30 per share.

Several other equities analysts have also weighed in on ALA. Raymond James raised their target price on AltaGas from C$35.00 to C$37.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. BMO Capital Markets raised their target price on shares of AltaGas from C$37.00 to C$40.00 in a research note on Thursday, September 5th. National Bankshares lifted their target price on shares of AltaGas from C$36.00 to C$39.00 and gave the stock an "outperform" rating in a report on Friday, August 23rd. Scotiabank raised their price target on AltaGas from C$38.00 to C$39.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, Royal Bank of Canada lifted their price objective on AltaGas from C$37.00 to C$40.00 and gave the stock an "outperform" rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$38.10.

AltaGas Price Performance

The firm has a market cap of C$10.12 billion, a price-to-earnings ratio of 23.28, a P/E/G ratio of -4.97 and a beta of 1.23. The company has a debt-to-equity ratio of 115.50, a quick ratio of 0.44 and a current ratio of 0.85. AltaGas has a 52-week low of C$24.67 and a 52-week high of C$35.77. The business has a fifty day moving average price of C$34.01 and a 200-day moving average price of C$31.76.

AltaGas (TSE:ALA - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported C$0.14 earnings per share for the quarter, topping analysts' consensus estimates of C$0.12 by C$0.02. The business had revenue of C$2.78 billion for the quarter, compared to the consensus estimate of C$2.54 billion. AltaGas had a net margin of 3.58% and a return on equity of 5.78%.

Insider Activity

In other AltaGas news, Director Aaron Bishop sold 19,820 shares of the business's stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of C$33.58, for a total value of C$665,555.60. In other AltaGas news, Director Aaron Bishop sold 19,820 shares of AltaGas stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of C$33.58, for a total transaction of C$665,555.60. Also, Senior Officer Randy Warren Toone sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of C$33.82, for a total value of C$101,460.00. Over the last ninety days, insiders have sold 33,320 shares of company stock worth $1,125,051. Company insiders own 0.58% of the company's stock.

AltaGas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were issued a dividend of $0.298 per share. This represents a $1.19 annualized dividend and a dividend yield of ∞. The ex-dividend date was Monday, September 16th. AltaGas's payout ratio is presently 82.07%.

AltaGas Company Profile

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.