Research Analysts Issue Forecasts for AltaGas Ltd.’s Q4 2023 Earnings (TSE:ALA)

AltaGas Ltd. (TSE:ALAFree Report) – Equities research analysts at National Bank Financial issued their Q4 2023 earnings estimates for shares of AltaGas in a research report issued to clients and investors on Tuesday, February 6th. National Bank Financial analyst P. Kenny anticipates that the company will post earnings of $0.76 per share for the quarter. The consensus estimate for AltaGas’ current full-year earnings is $2.14 per share.

ALA has been the subject of several other research reports. Scotiabank lifted their price objective on AltaGas from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. CIBC increased their price objective on shares of AltaGas from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a research note on Friday, December 29th. JPMorgan Chase & Co. cut their target price on shares of AltaGas from C$33.00 to C$32.00 and set an “overweight” rating for the company in a research report on Monday, December 4th. Finally, National Bankshares increased their price target on shares of AltaGas from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, AltaGas presently has a consensus rating of “Buy” and a consensus target price of C$33.14.

View Our Latest Report on ALA

AltaGas Trading Up 0.1 %

TSE:ALA opened at C$27.15 on Thursday. The company has a 50 day simple moving average of C$27.81 and a two-hundred day simple moving average of C$26.89. The company has a market cap of C$7.99 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of -4.97 and a beta of 1.18. The company has a current ratio of 0.82, a quick ratio of 0.44 and a debt-to-equity ratio of 114.73. AltaGas has a 12 month low of C$21.25 and a 12 month high of C$28.86.

AltaGas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $0.298 per share. This is a positive change from AltaGas’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 4.39%. AltaGas’s dividend payout ratio is currently 58.05%.

Insider Activity at AltaGas

In other AltaGas news, Senior Officer Randy Warren Toone sold 5,036 shares of the stock in a transaction dated Friday, January 12th. The shares were sold at an average price of C$28.30, for a total transaction of C$142,518.80. In other news, Senior Officer Randy Warren Toone sold 5,036 shares of the stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of C$28.30, for a total transaction of C$142,518.80. Also, Director Aaron Bishop sold 13,148 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of C$27.51, for a total transaction of C$361,701.48. Following the completion of the transaction, the director now directly owns 509 shares of the company’s stock, valued at C$14,002.59. Over the last ninety days, insiders sold 152,126 shares of company stock valued at $4,163,580. Corporate insiders own 0.63% of the company’s stock.

About AltaGas

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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 1.7 million customers.

Further Reading

Earnings History and Estimates for AltaGas (TSE:ALA)

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