AltaGas (ALA) Stock Price, News & Analysis

Company Overview

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. This segment also provides interstate natural gas transportation and storage services. The Midstream segment engages in the natural gas gathering, processing, and extraction with 1.2 billion cubic feet per day (Bcf/d) of extraction processing capacity and approximately 1.2 Bcf/d of raw field gas processing capacity; fractionation and liquids handling business; and natural gas and natural gas liquids marketing activities. It also engages in LPG exports and distribution, logistics, trucking and rail terminals, and liquid storage businesses. In addition, the company operates gas-fired power generation and distribution assets with a generating capacity of 508 megawatt of power in California. It serves residential, commercial, and industrial customers. AltaGas Ltd. was founded in 1994 and is headquartered in Calgary, Canada.

Key Stats

• Today's Range: C$34.40 to C$34.84
• 50-Day Range: C$32.81 to C$35.70
• 52-Week Range: C$26.58 to C$35.77
• Volume: 590,312 shs
• Average Volume: 878,414 shs
• Market Capitalization: C$10.31 billion
• P/E Ratio: 23.90
• Dividend Yield: 3.43%
• Price Target: C$38.10
• Consensus Rating: Moderate Buy

AltaGas Stock Analysis - MarketRank™

AltaGas scored higher than 39% of companies evaluated by MarketBeat. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 2.5 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

AltaGas has received a consensus rating of Moderate Buy. The company's average rating score is 2.90, and is based on 9 buy ratings, 1 hold rating, and no sell ratings.

Amount of Analyst Coverage

AltaGas has been the subject of 6 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 1.3 / 5
• Proj. Earnings Growth: N/A

Price to Earnings Ratio vs. the Market

The P/E ratio of AltaGas is 23.90, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 131.16.

Price to Earnings Ratio vs. Sector

The P/E ratio of AltaGas is 23.90, which means that it is trading at a less expensive P/E ratio than the Energy sector average P/E ratio of about 106.35.

Price to Earnings Growth Ratio

Due to a projected decrease in earnings for AltaGas, their PEG ratio cannot be calculated.

Price to Book Value per Share Ratio

AltaGas has a P/B Ratio of 1.31. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: N/A
• Short Interest Level: N/A

Short Interest

There is no current short interest data available for ALA.

Dividend

• Score: 1.7 / 5
• Dividend Strength: Weak

Dividend Leadership

AltaGas is a leading dividend payer. It pays a dividend yield of 3.51%, putting its dividend yield in the top 25% of dividend-paying stocks.

Dividend Growth

AltaGas does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of AltaGas is 82.07%. Payout ratios above 75% are not desirable because they may not be sustainable.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Short Interest

There is no current short interest data available for ALA.

News and Social Media

• Score: 1.5 / 5
• News Sentiment: -0.28

News Sentiment

AltaGas has a news sentiment score of -0.28. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.54 average news sentiment score of Energy companies.

News Coverage This Week

MarketBeat has tracked 4 news articles for AltaGas this week, compared to 2 articles on an average week.

MarketBeat Follows

6 people have added AltaGas to their MarketBeat watchlist in the last 30 days. This is an increase of 200% compared to the previous 30 days.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: Acquiring Shares

Insider Buying vs. Insider Selling

In the past three months, AltaGas insiders have bought 21.36% more of their company's stock than they have sold. Specifically, they have bought C$251,720.00 in company stock and sold C$207,420.00 in company stock.

Percentage Held by Insiders

Only 0.58% of the stock of AltaGas is held by insiders.

Percentage Held by Institutions

Only 35.25% of the stock of AltaGas is held by institutions.

ALA Stock Analysis - Frequently Asked Questions

How have ALA shares performed this year?

AltaGas' stock was trading at C$27.82 at the start of the year. Since then, ALA stock has increased by 24.6% and is now trading at C$34.66.
View the best growth stocks for 2024 here.

How were AltaGas' earnings last quarter?

AltaGas Ltd. (TSE:ALA) issued its quarterly earnings results on Thursday, July, 27th. The company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.01. The firm earned $539 million during the quarter, compared to the consensus estimate of $633.11 million. AltaGas had a trailing twelve-month return on equity of 5.78% and a net margin of 3.58%.

How do I buy shares of AltaGas?

Shares of ALA stock and other Canadian stocks can be purchased through an online brokerage account. Popular online brokerages with access to the Canadian stock market include BMO InvestorLine, CIBC Investor's Edge, Desjardins Online Brokerage, HSBC InvestDirect, Laurentian Bank Discount Brokerage, National Bank Direct Brokerage, Qtrade Investor, Questrade, RBC Direct Investing, Scotia iTrade, TD Direct Investing, and Virtual Brokers.
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What other stocks do shareholders of AltaGas own?

Based on aggregate information from My MarketBeat watchlists, some other companies that AltaGas investors own include Enbridge (ENB), Algonquin Power & Utilities (AQN), Toronto-Dominion Bank (TD), BCE (BCE), Bank of Nova Scotia (BNS), Pembina Pipeline (PPL) and Suncor Energy (SU).

Company Calendar

• Last Earnings: 7/27/2017
• Ex-Dividend for 9/27 Dividend: 9/16/2024
• Dividend Payable: 9/27/2024
• Today: 11/21/2024
• Ex-Dividend for 12/31 Dividend: 12/16/2024
• Dividend Payable: 12/31/2024
• Next Earnings (Estimated): 3/14/2025

Industry, Sector and Symbol

• Stock Exchange: TSE
• Sector: Energy
• Industry: Oil & Gas Midstream
• Sub-Industry: N/A
• Current Symbol: TSE:ALA
• CUSIP: N/A
• CIK: N/A
• Web: www.altagas.ca
• Phone: +1-403-6917575
• Fax: N/A
• Employees: 3,045
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: C$38.10
• High Stock Price Target: C$40.00
• Low Stock Price Target: C$34.00
• Potential Upside/Downside: +9.9%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.90
• Research Coverage: 10 Analysts

Profitability

• EPS (Most Recent Fiscal Year): C$1.45
• Trailing P/E Ratio: 23.90
• Forward P/E Ratio: 15.07
• P/E Growth: -4.97
• Net Income: C$429 million
• Net Margins: 3.58%
• Pretax Margin: N/A
• Return on Equity: 5.78%
• Return on Assets: 2.69%

Debt

• Debt-to-Equity Ratio: 115.50
• Current Ratio: 0.85
• Quick Ratio: 0.44

Sales & Book Value

• Annual Sales: C$12.75 billion
• Price / Sales: 0.81
• Cash Flow: C$0.66 per share
• Price / Cash Flow: 52.24
• Book Value: C$26.51 per share
• Price / Book: 1.31

Miscellaneous

• Outstanding Shares: 297,410,000
• Free Float: N/A
• Market Cap: C$10.31 billion
• Optionable: Not Optionable
• Beta: 1.23