Brokers Set Expectations for AltaGas’ Q4 Earnings (TSE:ALA)

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

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

AltaGas Trading Down 0.1 %

ALA opened at C$33.77 on Thursday. The firm has a market cap of C$10.04 billion, a price-to-earnings ratio of 23.29, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. AltaGas has a 52 week low of C$26.91 and a 52 week high of C$35.77. The business’s 50 day moving average is C$33.80 and its two-hundred day moving average is C$33.45. The company has a quick ratio of 0.44, a current ratio of 0.85 and a debt-to-equity ratio of 115.50.

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

AltaGas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid a $0.298 dividend. This represents a $1.19 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend was Monday, December 16th. AltaGas’s payout ratio is currently 82.07%.

Insider Buying and Selling

In other news, Senior Officer Vernon Dai-Chung Yu purchased 7,600 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of C$32.97 per share, with a total value of C$250,549.20. Also, Senior Officer Donald Mark Jenkins sold 12,352 shares of AltaGas stock in a transaction dated Monday, January 13th. The stock was sold at an average price of C$33.90, for a total transaction of C$418,732.80. 0.58% of the stock is currently owned by insiders.

About AltaGas

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.