AltaGas (ALA) to Release Earnings on Thursday

AltaGas (TSE:ALA) is set to release its earnings data before the market opens on Thursday, May 2nd. Analysts expect AltaGas to post earnings of C$1.04 per share for the quarter.

AltaGas (TSE:ALA) last issued its quarterly earnings data on Friday, March 8th. The company reported C$0.75 earnings per share for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of C$4.11 billion.

AltaGas Price Performance

Shares of TSE ALA opened at C$30.18 on Wednesday. AltaGas has a fifty-two week low of C$22.57 and a fifty-two week high of C$30.55. The firm’s 50-day simple moving average is C$29.39 and its 200 day simple moving average is C$28.08. The company has a quick ratio of 0.44, a current ratio of 0.89 and a debt-to-equity ratio of 125.64. The stock has a market cap of C$8.91 billion, a P/E ratio of 13.35, a P/E/G ratio of -4.97 and a beta of 1.22.

AltaGas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were issued a dividend of $0.298 per share. This is a positive change from AltaGas’s previous quarterly dividend of $0.28. This represents a $1.19 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend was Thursday, March 14th. AltaGas’s payout ratio is presently 52.65%.

Insiders Place Their Bets

In other AltaGas news, Director Jeremy Jason Weatherhead sold 12,215 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was 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 16,000 shares of AltaGas stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of C$29.58, for a total transaction of C$473,200.00. Also, Director Jeremy Jason Weatherhead sold 12,215 shares of AltaGas stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of C$29.60, for a total value of C$361,564.00. In the last ninety days, insiders sold 68,239 shares of company stock worth $2,002,672. 0.57% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. TD Securities lifted their target price on AltaGas from C$32.00 to C$34.00 and gave the stock a “buy” rating in a report on Monday, March 11th. National Bankshares lifted their target price on AltaGas from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Scotiabank lifted their target price on AltaGas from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Finally, Jefferies Financial Group set a C$34.00 price target on AltaGas and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, AltaGas presently has an average rating of “Buy” and a consensus price target of C$33.75.

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.