AltaGas Ltd. Expected to Post Q1 2024 Earnings of $1.05 Per Share (TSE:ALA)

AltaGas Ltd. (TSE:ALA) – Equities research analysts at National Bank Financial issued their Q1 2024 earnings estimates for AltaGas in a report released on Tuesday, April 23rd. National Bank Financial analyst P. Kenny expects that the company will post earnings per share of $1.05 for the quarter. The consensus estimate for AltaGas’ current full-year earnings is $2.15 per share.

AltaGas (TSE:ALA) last released its quarterly earnings results on Friday, March 8th. The company reported C$0.75 earnings per share (EPS) for the quarter, hitting 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 for the quarter, compared to analyst estimates of C$4.11 billion.

ALA has been the subject of a number of other reports. CIBC boosted their target price on shares of AltaGas from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research report on Friday, December 29th. Scotiabank boosted their target price on shares of AltaGas from C$31.00 to C$33.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. TD Securities boosted their target price on shares of AltaGas from C$32.00 to C$34.00 and gave the company a “buy” rating in a research report on Monday, March 11th. National Bankshares boosted their target price on shares of AltaGas from C$31.00 to C$33.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Finally, Jefferies Financial Group set a C$34.00 target price on shares of AltaGas and gave the company a “buy” rating in a research report on Tuesday, February 27th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, AltaGas currently has an average rating of “Buy” and an average price target of C$33.75.

AltaGas Trading Down 0.3 %

TSE:ALA opened at C$30.13 on Thursday. AltaGas has a 12 month low of C$22.57 and a 12 month high of C$30.32. The firm has a fifty day simple moving average of C$29.31 and a 200-day simple moving average of C$28.02. The company has a current ratio of 0.89, a quick ratio of 0.44 and a debt-to-equity ratio of 125.64. The company has a market capitalization of C$8.90 billion, a P/E ratio of 13.33, a PEG ratio of -4.97 and a beta of 1.22.

AltaGas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were given a $0.298 dividend. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.96%. 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 dividend payout ratio (DPR) is 52.65%.

Insider Activity at AltaGas

In other AltaGas news, Director Jeremy Jason Weatherhead sold 12,215 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of C$29.60, for a total transaction of C$361,564.00. In other news, Senior Officer Randy Warren Toone sold 40,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of C$29.18, for a total value of C$1,167,200.00. Also, Director Jeremy Jason Weatherhead sold 12,215 shares of the firm’s stock in a transaction 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. Insiders have sold 68,239 shares of company stock valued at $2,002,672 in the last ninety days. Insiders own 0.57% 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.