Altagas Ltd (ALA) to Release Earnings on Thursday
Altagas Ltd (TSE:ALA) will be releasing its earnings data before the market opens on Thursday, October 19th. Analysts expect Altagas to post earnings of C$0.11 per share for the quarter.
Altagas (TSE:ALA) last announced its earnings results on Thursday, July 27th. The company reported C$0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.16 by C$0.01. Altagas had a negative return on equity of 0.93% and a net margin of 1.84%. The firm had revenue of C$539.00 million for the quarter, compared to the consensus estimate of C$633.11 million.
Altagas Ltd (ALA) opened at 28.20 on Thursday. Altagas Ltd has a 52 week low of $26.87 and a 52 week high of $35.55. The company’s 50-day moving average price is $28.03 and its 200 day moving average price is $29.50. The stock has a market capitalization of $4.84 billion and a P/E ratio of 43.72.
The firm also recently announced a monthly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 25th will be issued a $0.175 dividend. This represents a $2.10 annualized dividend and a yield of 7.45%. The ex-dividend date is Friday, September 22nd.
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Several equities analysts recently commented on ALA shares. Beacon Securities reissued a “buy” rating on shares of Altagas in a report on Thursday, September 21st. BMO Capital Markets set a C$32.00 target price on Altagas and gave the company a “market perform” rating in a report on Friday, July 28th. Royal Bank Of Canada dropped their target price on Altagas from C$35.00 to C$33.00 and set a “sector perform” rating on the stock in a report on Friday, July 28th. Finally, Canaccord Genuity dropped their target price on Altagas from C$33.00 to C$31.00 and set a “hold” rating on the stock in a report on Tuesday, July 25th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of C$35.11.
Altagas Company Profile
AltaGas Ltd is a Canada-based energy infrastructure company. The Company operates through three segments: Gas, Power and Utilities. The Gas segment transacts approximately two billion cubic feet per day (Bcf/d) of natural gas and includes natural gas gathering and processing, natural gas liquids extraction and separation, transmission, storage and natural gas marketing, as well as its interest in Petrogas Energy Corp.
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