AltaGas (ALA) to Release Quarterly Earnings on Thursday

AltaGas (TSE:ALAGet Rating) will announce its earnings results after the market closes on Thursday, April 28th. Analysts expect the company to announce earnings of C$0.93 per share for the quarter.

AltaGas (TSE:ALAGet Rating) last released its quarterly earnings results on Friday, March 4th. The company reported C$0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.40 by C($0.02). The firm had revenue of C$3.14 billion during the quarter, compared to analysts’ expectations of C$1.53 billion.

ALA stock opened at C$30.28 on Thursday. The company has a market cap of C$8.49 billion and a P/E ratio of 36.93. AltaGas has a 1 year low of C$21.23 and a 1 year high of C$31.16. The company has a debt-to-equity ratio of 114.56, a current ratio of 0.99 and a quick ratio of 0.57. The stock’s fifty day moving average price is C$28.55 and its 200-day moving average price is C$26.87.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Thursday, March 31st were paid a $0.265 dividend. This is an increase from AltaGas’s previous quarterly dividend of $0.18. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Tuesday, March 15th. AltaGas’s dividend payout ratio (DPR) is 121.90%.

A number of equities analysts have recently issued reports on the company. CSFB raised their price target on AltaGas from C$31.00 to C$35.00 in a research note on Monday, April 11th. JPMorgan Chase & Co. raised their price target on AltaGas from C$31.00 to C$34.00 in a research note on Tuesday. CIBC dropped their price target on AltaGas from C$34.00 to C$33.00 and set an “outperform” rating on the stock in a research note on Monday, March 7th. Scotiabank lifted their target price on AltaGas from C$31.00 to C$33.00 in a research report on Tuesday. Finally, TD Securities lifted their target price on AltaGas from C$30.00 to C$32.00 and gave the company a “buy” rating in a research report on Monday, March 7th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$31.61.

About AltaGas (Get Rating)

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 rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.7 million customers.

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Earnings History for AltaGas (TSE:ALA)

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