Equities Analysts Offer Predictions for AltaGas Q3 Earnings

AltaGas Ltd. (TSE:ALA) – Stock analysts at Atb Cap Markets upped their Q3 2024 EPS estimates for AltaGas in a research note issued on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now forecasts that the company will post earnings of $0.10 per share for the quarter, up from their prior estimate of $0.09. The consensus estimate for AltaGas’ current full-year earnings is $2.30 per share.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered shares of AltaGas from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from C$36.00 to C$37.00 in a report on Wednesday. Scotiabank lifted their target price on AltaGas from C$36.00 to C$38.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Jefferies Financial Group increased their price target on AltaGas from C$37.00 to C$39.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Raymond James lifted their price objective on AltaGas from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets raised their price target on shares of AltaGas from C$37.00 to C$40.00 in a report on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, AltaGas currently has a consensus rating of “Moderate Buy” and an average target price of C$38.00.

AltaGas Stock Down 4.3 %

TSE:ALA opened at C$34.08 on Thursday. The company has a debt-to-equity ratio of 115.50, a current ratio of 0.85 and a quick ratio of 0.44. AltaGas has a one year low of C$24.67 and a one year high of C$35.77. The firm’s 50 day simple moving average is C$34.01 and its 200 day simple moving average is C$31.76. The company has a market cap of C$10.14 billion, a PE ratio of 23.50, a P/E/G ratio of -4.97 and a beta of 1.23.

AltaGas (TSE:ALA) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.14 EPS for the quarter, beating analysts’ consensus estimates of C$0.12 by C$0.02. AltaGas had a return on equity of 5.78% and a net margin of 3.58%. The firm had revenue of C$2.78 billion for the quarter, compared to analyst estimates of C$2.54 billion.

AltaGas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were paid a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date was Monday, September 16th. AltaGas’s dividend payout ratio (DPR) is currently 82.07%.

Insiders Place Their Bets

In other news, Senior Officer Bertram Grant Bradley sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$33.61, for a total transaction of C$252,075.00. In other AltaGas news, Senior Officer Bertram Grant Bradley sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$33.61, for a total transaction of C$252,075.00. Also, Director Aaron Bishop sold 19,820 shares of AltaGas stock in a transaction 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. Over the last quarter, insiders have sold 33,320 shares of company stock worth $1,125,051. Corporate insiders own 0.58% of the company’s stock.

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.