Q1 2024 EPS Estimates for AltaGas Ltd. Decreased by Analyst (TSE:ALA)

AltaGas Ltd. (TSE:ALA) – Atb Cap Markets cut their Q1 2024 earnings per share (EPS) estimates for shares of AltaGas in a report issued on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now forecasts that the company will post earnings of $1.03 per share for the quarter, down from their prior estimate of $1.04. The consensus estimate for AltaGas’ current full-year earnings is $2.15 per share. Atb Cap Markets also issued estimates for AltaGas’ FY2024 earnings at $2.10 EPS.

A number of other research analysts also recently weighed in on ALA. Scotiabank upped their price target on AltaGas from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. TD Securities upped their price target on AltaGas from C$32.00 to C$34.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. National Bankshares upped their price target on AltaGas from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. CIBC increased their price objective on AltaGas from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a research note on Friday, December 29th. Finally, Jefferies Financial Group set a C$34.00 price objective 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 data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$33.75.

AltaGas Stock Up 0.1 %

Shares of AltaGas stock opened at C$30.22 on Thursday. The stock’s 50-day moving average is C$29.27 and its 200 day moving average is C$27.99. AltaGas has a one year low of C$22.57 and a one year high of C$30.32. The company has a debt-to-equity ratio of 125.64, a current ratio of 0.89 and a quick ratio of 0.44. The firm has a market cap of C$8.92 billion, a price-to-earnings ratio of 13.37, a PEG ratio of -4.97 and a beta of 1.22.

AltaGas (TSE:ALA) last announced its earnings results on Friday, March 8th. The company reported C$0.75 EPS for the quarter, meeting the consensus estimate of C$0.75. AltaGas had a return on equity of 8.90% and a net margin of 5.18%. The company had revenue of C$3.29 billion for the quarter, compared to analyst estimates of C$4.11 billion.

Insider Activity at AltaGas

In other AltaGas news, Director Jeremy Jason Weatherhead sold 12,215 shares of the stock in a transaction on 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 AltaGas news, Director Jeremy Jason Weatherhead sold 12,215 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of C$29.60, for a total transaction of C$361,564.00. Also, Senior Officer Randy Warren Toone sold 40,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of C$29.18, for a total value of C$1,167,200.00. Over the last three months, insiders sold 68,239 shares of company stock valued at $2,002,672. 0.57% of the stock is owned by insiders.

AltaGas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were given a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.94%. This is an increase from AltaGas’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, March 14th. AltaGas’s dividend payout ratio (DPR) is presently 52.65%.

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.