Equities Analysts Offer Predictions for Altagas Ltd’s FY2017 Earnings (ALA)
Altagas Ltd (TSE:ALA) – Research analysts at Beacon Securities cut their FY2017 EPS estimates for shares of Altagas in a note issued to investors on Friday. Beacon Securities analyst L. Dunkley now anticipates that the company will post earnings of $0.59 per share for the year, down from their prior forecast of $0.63. Beacon Securities has a “Buy” rating on the stock.
A number of other research firms have also recently weighed in on ALA. BMO Capital Markets reaffirmed a “market perform” rating and set a C$32.00 price objective on shares of Altagas in a research report on Friday. CIBC cut their target price on Altagas from C$38.00 to C$35.00 in a research note on Friday. Scotiabank cut their target price on Altagas from C$36.00 to C$34.00 and set an “outperform” rating for the company in a research note on Friday. Royal Bank Of Canada cut their target price on Altagas from C$35.00 to C$33.00 and set a “sector perform” rating for the company in a research note on Friday, July 28th. Finally, Canaccord Genuity cut their target price on Altagas from C$33.00 to C$31.00 and set a “hold” rating for the company in a research note on Tuesday, July 25th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of C$34.00.
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Altagas (TSE ALA) opened at 29.32 on Monday. The stock has a market capitalization of $5.03 billion and a PE ratio of 45.46. The company’s 50-day moving average price is $28.25 and its 200 day moving average price is $29.39. Altagas has a 12 month low of $26.87 and a 12 month high of $35.55.
Altagas (TSE:ALA) last released its earnings results on Thursday, July 27th. The company reported C$0.17 EPS for the quarter, topping the Zacks’ 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 during the quarter, compared to the consensus estimate of C$633.11 million.
The company also recently disclosed a monthly dividend, which was paid on Monday, October 16th. Investors of record on Monday, September 25th were paid a $0.175 dividend. This represents a $2.10 annualized dividend and a yield of 7.16%. The ex-dividend date of this dividend was Friday, September 22nd.
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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