Analysts Set Expectations for AltaGas’ Q3 Earnings (TSE:ALA)

AltaGas Ltd. (TSE:ALA) – Equities researchers at National Bank Financial issued their Q3 2024 EPS estimates for AltaGas in a research note issued to investors on Wednesday, October 23rd. National Bank Financial analyst P. Kenny forecasts that the company will post earnings per share of $0.08 for the quarter. The consensus estimate for AltaGas’ current full-year earnings is $2.30 per share.

AltaGas (TSE:ALA) last announced its quarterly earnings data 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 business had revenue of C$2.78 billion for the quarter, compared to analysts’ expectations of C$2.54 billion. AltaGas had a net margin of 3.58% and a return on equity of 5.78%.

A number of other research firms have also recently weighed in on ALA. National Bankshares boosted their target price on shares of AltaGas from C$36.00 to C$39.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Royal Bank of Canada boosted their target price on shares of AltaGas from C$37.00 to C$40.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. cut shares of AltaGas from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from C$36.00 to C$37.00 in a research note on Wednesday. ATB Capital set a C$36.00 target price on shares of AltaGas and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Finally, CIBC lifted their price target on shares of AltaGas from C$38.00 to C$40.00 in a report on Monday, July 15th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, AltaGas currently has an average rating of “Moderate Buy” and an average price target of C$38.10.

AltaGas Stock Performance

The business’s fifty day moving average is C$34.01 and its two-hundred day moving average is C$31.76. The company has a market capitalization of C$10.12 billion, a PE ratio of 23.28, a PEG ratio of -4.97 and a beta of 1.23. AltaGas has a one year low of C$24.67 and a one year 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.

AltaGas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were issued 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 ∞. AltaGas’s dividend payout ratio is currently 82.07%.

Insider Buying and Selling at AltaGas

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

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.