Q1 2024 EPS Estimates for AltaGas Ltd. Decreased by Analyst (TSE:ALA)

AltaGas Ltd. (TSE:ALA) – Atb Cap Markets cut their Q1 2024 EPS estimates for shares of AltaGas in a research report issued on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now forecasts that the company will post earnings of $1.03 per share for the quarter, down from their previous estimate of $1.04. The consensus estimate for AltaGas’ current full-year earnings is $2.15 per share. Atb Cap Markets also issued estimates for AltaGas’ FY2024 earnings at $2.10 EPS.

Several other analysts also recently commented on ALA. Jefferies Financial Group set a C$34.00 price target on shares of AltaGas and gave the company a “buy” rating in a research report on Tuesday, February 27th. Scotiabank upped their price target on shares of AltaGas from C$31.00 to C$33.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. National Bankshares upped their price objective 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. TD Securities upped their price objective on shares of AltaGas from C$32.00 to C$34.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Finally, CIBC upped 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 report on Friday, December 29th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$33.75.

AltaGas Stock Up 0.1 %

ALA stock opened at C$30.22 on Thursday. The company has a fifty day moving average price of C$29.27 and a 200 day moving average price of C$27.99. AltaGas has a 12 month low of C$22.57 and a 12 month high of C$30.32. The company has a market cap of C$8.92 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of -4.97 and a beta of 1.22. The company has a debt-to-equity ratio of 125.64, a current ratio of 0.89 and a quick ratio of 0.44.

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

AltaGas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.298 per share. The ex-dividend date was Thursday, March 14th. This is a boost from AltaGas’s previous quarterly dividend of $0.28. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.94%. AltaGas’s dividend payout ratio is 52.65%.

Insider Transactions at AltaGas

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

About AltaGas

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.