Atb Cap Markets Issues Positive Outlook for AltaGas Earnings

AltaGas Ltd. (TSE:ALA) – Equities research analysts at Atb Cap Markets boosted their Q1 2025 earnings per share estimates for shares of AltaGas in a report released on Wednesday, April 23rd. Atb Cap Markets analyst N. Heywood now anticipates that the company will post earnings per share of $1.13 for the quarter, up from their prior estimate of $1.12. The consensus estimate for AltaGas’ current full-year earnings is $2.30 per share.

ALA has been the topic of several other reports. Scotiabank upped their target price on shares of AltaGas from C$40.00 to C$42.00 in a research report on Monday, March 10th. CIBC lifted their target price on AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th. Finally, JPMorgan Chase & Co. upped their price objective on AltaGas from C$39.00 to C$41.00 in a research note on Monday, April 21st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$39.56.

AltaGas Trading Up 0.9 %

Shares of ALA stock opened at C$40.41 on Monday. The stock has a market capitalization of C$12.03 billion, a price-to-earnings ratio of 23.42, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. AltaGas has a 12-month low of C$29.51 and a 12-month high of C$40.53. The stock’s 50-day moving average price is C$37.89 and its 200-day moving average price is C$35.35. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26.

AltaGas (TSE:ALA) last issued its earnings results on Friday, March 7th. The company reported C$0.76 earnings per share for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%.

AltaGas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were issued a dividend of $0.315 per share. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from AltaGas’s previous quarterly dividend of $0.30. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.12%. AltaGas’s payout ratio is 68.98%.

Insider Activity

In related news, Senior Officer Corine Renae Knight Bushfield sold 144,064 shares of AltaGas stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of C$38.00, for a total value of C$5,474,432.00. Also, Director Peter James Ledig sold 25,200 shares of AltaGas stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of C$38.35, for a total value of C$966,420.00. Over the last three months, insiders have sold 398,414 shares of company stock valued at $15,302,227. Company insiders own 0.58% of the company’s stock.

AltaGas Company Profile

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.