FY2024 EPS Estimates for AltaGas Reduced by Analyst

AltaGas Ltd. (TSE:ALAFree Report) – Research analysts at National Bank Financial decreased their FY2024 earnings per share (EPS) estimates for AltaGas in a research report issued on Thursday, October 31st. National Bank Financial analyst P. Kenny now forecasts that the company will post earnings per share of $2.12 for the year, down from their previous forecast of $2.13. The consensus estimate for AltaGas’ current full-year earnings is $2.30 per share. National Bank Financial also issued estimates for AltaGas’ FY2025 earnings at $2.28 EPS.

ALA has been the subject of a number of other reports. BMO Capital Markets boosted their price objective on shares of AltaGas from C$37.00 to C$40.00 in a report on Thursday, September 5th. CIBC lifted their target price on shares of AltaGas from C$38.00 to C$40.00 in a research note on Monday, July 15th. Scotiabank lifted their target price 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. National Bankshares boosted their price target 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. Finally, ATB Capital set a C$36.00 target price on shares of AltaGas and gave the company an “outperform” rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$38.10.

Check Out Our Latest Stock Report on AltaGas

AltaGas Price Performance

ALA stock opened at C$33.12 on Monday. The firm has a 50 day moving average price of C$34.07 and a 200-day moving average price of C$32.01. AltaGas has a 52-week low of C$26.10 and a 52-week high of C$35.77. The firm has a market capitalization of C$9.85 billion, a price-to-earnings ratio of 22.84, a PEG ratio of -4.97 and a beta of 1.23. The company has a debt-to-equity ratio of 115.50, a quick ratio of 0.44 and a current ratio of 0.85.

AltaGas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Monday, December 16th. AltaGas’s dividend payout ratio (DPR) is presently 82.07%.

Insider Activity

In other AltaGas news, Senior Officer Vernon Dai-Chung Yu purchased 7,600 shares of AltaGas stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average price of C$33.12 per share, for a total transaction of C$251,719.60. In other AltaGas news, Senior Officer Vernon Dai-Chung Yu bought 7,600 shares of the company’s stock in a transaction on Monday, November 4th. The stock was purchased at an average cost of C$33.12 per share, for a total transaction of C$251,719.60. Also, Senior Officer Randy Warren Toone sold 3,000 shares of AltaGas stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of C$33.82, for a total transaction of C$101,460.00. In the last three months, insiders have sold 33,320 shares of company stock valued at $1,125,051. Company insiders own 0.58% of the company’s stock.

AltaGas Company Profile

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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.

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Earnings History and Estimates for AltaGas (TSE:ALA)

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