Analysts Offer Predictions for AltaGas Q4 Earnings

AltaGas Ltd. (TSE:ALA) – Equities researchers at National Bank Financial issued their Q4 2024 EPS estimates for shares of AltaGas in a research note issued on Tuesday, January 28th. National Bank Financial analyst P. Kenny forecasts that the company will post earnings of $0.71 per share for the quarter. The consensus estimate for AltaGas’ current full-year earnings is $2.30 per share.

AltaGas (TSE:ALA) last issued its earnings results on Thursday, October 31st. The company reported C$0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.10 by C$0.04. AltaGas had a net margin of 3.58% and a return on equity of 5.78%. During the same period in the previous year, the business posted $0.10 earnings per share.

Several other research analysts have also recently issued reports on ALA. Royal Bank of Canada upped their target price on shares of AltaGas from C$37.00 to C$40.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Scotiabank increased their price target on shares of AltaGas from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. cut shares of AltaGas from an “overweight” rating to a “neutral” rating and increased their price target for the stock from C$36.00 to C$37.00 in a research note on Wednesday, October 23rd. Finally, CIBC increased their price target on shares of AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, AltaGas presently has an average rating of “Moderate Buy” and a consensus price target of C$38.30.

AltaGas Trading Up 0.4 %

Shares of AltaGas stock opened at C$33.80 on Thursday. The company has a fifty day simple moving average of C$33.80 and a 200-day simple moving average of C$33.45. AltaGas has a 12-month low of C$26.91 and a 12-month high of C$35.77. The company has a current ratio of 0.85, a quick ratio of 0.44 and a debt-to-equity ratio of 115.50. The stock has a market cap of C$10.05 billion, a price-to-earnings ratio of 23.31, a PEG ratio of -4.97 and a beta of 1.23.

Insiders Place Their Bets

In other AltaGas news, Senior Officer Donald Mark Jenkins sold 12,352 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of C$33.90, for a total value of C$418,732.80. Also, Senior Officer Vernon Dai-Chung Yu acquired 7,600 shares of the business’s stock in a transaction on Monday, November 4th. The stock was bought at an average cost of C$33.12 per share, for a total transaction of C$251,719.60. Corporate insiders own 0.58% of the company’s stock.

AltaGas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend was Monday, December 16th. AltaGas’s dividend payout ratio is presently 82.07%.

AltaGas Company Profile

AltaGas Ltd owns and operates a diversified basket of energy infrastructure businesses. Business is conducted through four segments: Midstream, power, utilities and corporate. Utility business owns and operates rate-regulated natural gas distribution assets across North America. Midstream business subsequent to the sale of non-core midstream assets in Canada and also engaged in the natural gas liquid processing and extraction, transportation, and storage.