AltaGas Ltd. (TSE:ALA – Free Report) – Equities research analysts at National Bank Financial issued their Q1 2024 earnings estimates for shares of AltaGas in a report issued on Tuesday, April 23rd. National Bank Financial analyst P. Kenny forecasts that the company will post earnings of $1.05 per share for the quarter. The consensus estimate for AltaGas’ current full-year earnings is $2.15 per share.
AltaGas (TSE:ALA – Get Free Report) last posted its quarterly earnings results on Friday, March 8th. The company reported C$0.75 EPS for the quarter, meeting 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 analyst estimates of C$4.11 billion.
Read Our Latest Research Report on ALA
AltaGas Trading Up 0.9 %
TSE ALA opened at C$30.20 on Thursday. AltaGas has a one year low of C$22.57 and a one year high of C$30.31. The company 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. The firm has a market capitalization of C$8.92 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of -4.97 and a beta of 1.22.
AltaGas Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were given a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.95%. This is an increase from AltaGas’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, March 14th. AltaGas’s payout ratio is 52.65%.
Insiders Place Their Bets
In related news, Senior Officer Randy Warren Toone sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of C$29.58, for a total value of C$473,200.00. In related news, Senior Officer Randy Warren Toone sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of C$29.58, for a total value of C$473,200.00. Also, Director Jeremy Jason Weatherhead sold 12,215 shares of the business’s 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 the last three months, insiders have sold 68,239 shares of company stock worth $2,002,672. 0.57% of the stock is owned by corporate 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.
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