AltaGas (ALA) Scheduled to Post Earnings on Thursday

AltaGas (TSE:ALA) will announce its earnings results before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of C$0.09 per share for the quarter.

AltaGas (TSE:ALA) last released its earnings results on Thursday, August 1st. The company reported C$0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.12 by C$0.02. The company had revenue of C$2.78 billion during the quarter, compared to analyst estimates of C$2.54 billion. AltaGas had a return on equity of 5.78% and a net margin of 3.58%.

AltaGas Stock Performance

Shares of AltaGas stock opened at C$34.08 on Thursday. The stock has a market cap of C$10.14 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. AltaGas has a 12 month low of C$24.67 and a 12 month high of C$35.77. The company has a quick ratio of 0.44, a current ratio of 0.85 and a debt-to-equity ratio of 115.50. The business has a fifty day simple moving average of C$34.01 and a 200-day simple moving average of C$31.76.

AltaGas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were given a dividend of $0.298 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.19 dividend on an annualized basis and a yield of 3.50%. AltaGas’s payout ratio is presently 82.07%.

Analyst Ratings Changes

ALA has been the topic of several research analyst reports. Royal Bank of Canada boosted their price target 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. JPMorgan Chase & Co. downgraded AltaGas from an “overweight” rating to a “neutral” rating and raised their price target for the stock from C$36.00 to C$37.00 in a research note on Wednesday. Raymond James boosted their price target on AltaGas from C$35.00 to C$37.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Scotiabank raised their price objective on shares of AltaGas from C$36.00 to C$38.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Finally, BMO Capital Markets boosted their target price on shares of AltaGas from C$37.00 to C$40.00 in a research report on Thursday, September 5th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, AltaGas has a consensus rating of “Moderate Buy” and an average target price of C$38.00.

Insiders Place Their Bets

In related news, Senior Officer Randy Warren Toone sold 3,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of C$35.32, for a total transaction of C$105,960.00. In related news, Senior Officer Randy Warren Toone sold 3,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of C$35.32, for a total transaction of C$105,960.00. Also, Senior Officer Bertram Grant Bradley sold 7,500 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of C$33.61, for a total transaction of C$252,075.00. Insiders sold a total of 33,320 shares of company stock valued at $1,125,051 in the last quarter. Insiders own 0.58% 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.