Altagas Ltd (TSE:ALA) Expected to Post FY2021 Earnings of $1.27 Per Share

Altagas Ltd (TSE:ALA) – Equities researchers at National Bank Financial issued their FY2021 earnings per share estimates for shares of Altagas in a report issued on Sunday, March 22nd. National Bank Financial analyst P. Kenny expects that the company will earn $1.27 per share for the year. National Bank Financial has a “Outperform” rating and a $17.00 price target on the stock.

Several other equities research analysts also recently commented on ALA. JPMorgan Chase & Co. boosted their target price on shares of Altagas from C$21.00 to C$22.00 in a research note on Wednesday, December 18th. Canaccord Genuity reduced their target price on shares of Altagas from C$23.00 to C$16.00 in a research note on Friday, March 20th. Scotiabank boosted their target price on shares of Altagas from C$21.00 to C$22.00 in a research note on Friday, February 7th. Raymond James restated a “market perform” rating and issued a C$21.00 target price on shares of Altagas in a research note on Tuesday, March 3rd. Finally, CIBC reduced their price target on shares of Altagas from C$23.00 to C$19.00 in a research report on Wednesday, March 18th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of C$20.90.

Shares of TSE:ALA opened at C$12.57 on Wednesday. Altagas has a 52 week low of C$8.71 and a 52 week high of C$22.74. The company has a debt-to-equity ratio of 101.66, a quick ratio of 0.43 and a current ratio of 0.70. The company’s fifty day moving average is C$18.53 and its 200-day moving average is C$19.36. The company has a market capitalization of $2.58 billion and a PE ratio of 4.54.

Altagas (TSE:ALA) last issued its earnings results on Friday, February 28th. The company reported C$0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.55 by C$0.12. The firm had revenue of C$1.53 billion during the quarter, compared to analyst estimates of C$1.77 billion.

The business also recently declared a monthly dividend, which was paid on Monday, March 16th. Investors of record on Tuesday, February 25th were given a dividend of $0.08 per share. The ex-dividend date was Monday, February 24th. This represents a $0.96 annualized dividend and a yield of 7.64%. Altagas’s dividend payout ratio (DPR) is 34.66%.

About Altagas

AltaGas Ltd. operates as a diversified energy infrastructure company in North America. The company operates through three segments: Utilities, Midstream, and Power. The Utilities segment owns and operates regulated natural gas distribution utilities in Michigan, Alaska, the District of Columbia, Maryland, and Virginia; and 2 regulated natural gas storage utilities in the United States serving approximately 1.6 million customers.

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Earnings History and Estimates for Altagas (TSE:ALA)

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