AltaGas (ALA) Set to Announce Earnings on Thursday

AltaGas (TSE:ALA) will release its earnings data before the market opens on Thursday, May 2nd. Analysts expect AltaGas to post earnings of C$1.04 per share for the quarter.

AltaGas (TSE:ALA) last announced its earnings results on Friday, March 8th. The company reported C$0.75 earnings per share for the quarter, hitting the consensus estimate of C$0.75. AltaGas had a net margin of 5.18% and a return on equity of 8.90%. The business had revenue of C$3.29 billion during the quarter, compared to the consensus estimate of C$4.11 billion.

AltaGas Price Performance

Shares of ALA opened at C$30.20 on Thursday. AltaGas has a fifty-two week low of C$22.57 and a fifty-two week high of C$30.31. The company has a market capitalization of C$8.92 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of -4.97 and a beta of 1.22. The firm has a 50-day simple moving average of C$29.22 and a 200-day simple moving average of C$27.97. The company has a debt-to-equity ratio of 125.64, a quick ratio of 0.44 and a current ratio of 0.89.

AltaGas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were given a $0.298 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.19 dividend on an annualized basis and a yield of 3.95%. This is an increase from AltaGas’s previous quarterly dividend of $0.28. AltaGas’s dividend payout ratio (DPR) is presently 52.65%.

Analyst Ratings Changes

ALA has been the subject of a number of recent analyst reports. CIBC raised their price objective on shares of AltaGas from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research report on Friday, December 29th. Jefferies Financial Group set a C$34.00 price objective on shares of AltaGas and gave the company a “buy” rating in a research report on Tuesday, February 27th. National Bankshares raised their price objective on shares of AltaGas from C$31.00 to C$33.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. TD Securities boosted their price target on AltaGas from C$32.00 to C$34.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Finally, Scotiabank boosted their price target on AltaGas from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of C$33.75.

Insider Buying and Selling

In related news, Director Jeremy Jason Weatherhead sold 12,215 shares of AltaGas stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of C$29.60, for a total transaction of C$361,564.00. In other news, Senior Officer Randy Warren Toone sold 40,000 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of C$29.18, for a total transaction of C$1,167,200.00. Also, Director Jeremy Jason Weatherhead sold 12,215 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of C$29.60, for a total value of C$361,564.00. Insiders sold 68,239 shares of company stock worth $2,002,672 in the last ninety days. Insiders own 0.57% 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.