Brokers Offer Predictions for AltaGas’ Q4 Earnings (TSE:ALA)

AltaGas Ltd. (TSE:ALA) – National Bank Financial issued their Q4 2024 EPS estimates for shares of AltaGas in a research note issued to investors on Tuesday, January 28th. National Bank Financial analyst P. Kenny expects that the company will post earnings per share of $0.71 for the quarter. The consensus estimate for AltaGas’ current full-year earnings is $2.30 per share.

AltaGas (TSE:ALA) last issued its earnings results on Thursday, October 31st. The company reported C$0.14 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.10 by C$0.04. AltaGas had a net margin of 3.58% and a return on equity of 5.78%. During the same period last year, the company earned $0.10 EPS.

Several other equities analysts have also recently issued reports on ALA. Scotiabank upped their price target on shares of AltaGas from C$38.00 to C$39.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. downgraded AltaGas from an “overweight” rating to a “neutral” rating and increased their price objective for the company from C$36.00 to C$37.00 in a report on Wednesday, October 23rd. Finally, CIBC lifted their target price on AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a report on Thursday, January 9th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$38.30.

AltaGas Stock Down 0.7 %

Shares of TSE:ALA opened at C$33.54 on Thursday. 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 has a 52-week low of C$26.91 and a 52-week high of C$35.77. The company has a market capitalization of C$9.98 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The company has a fifty day moving average of C$33.75 and a 200-day moving average of C$33.47.

AltaGas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a $0.298 dividend. The ex-dividend date was Monday, December 16th. This represents a $1.19 annualized dividend and a dividend yield of 3.55%. AltaGas’s dividend payout ratio 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 acquired at an average price of C$33.12 per share, with a total value of C$251,719.60. Also, Senior Officer Donald Mark Jenkins sold 12,352 shares of AltaGas stock in a transaction dated Monday, January 13th. The shares were sold at an average price of C$33.90, for a total transaction of C$418,732.80. 0.58% of the stock is currently owned by company insiders.

About AltaGas

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.