Q2 2024 EPS Estimates for AltaGas Ltd. (TSE:ALA) Cut by Atb Cap Markets

AltaGas Ltd. (TSE:ALA) – Equities researchers at Atb Cap Markets decreased their Q2 2024 earnings per share estimates for shares of AltaGas in a report released on Thursday, May 2nd. Atb Cap Markets analyst N. Heywood now forecasts that the company will post earnings of $0.12 per share for the quarter, down from their previous forecast of $0.17. The consensus estimate for AltaGas’ current full-year earnings is $2.15 per share. Atb Cap Markets also issued estimates for AltaGas’ Q4 2024 earnings at $0.79 EPS, Q1 2025 earnings at $1.16 EPS, Q3 2025 earnings at $0.18 EPS, Q4 2025 earnings at $0.75 EPS and FY2026 earnings at $2.59 EPS.

Other equities research analysts have also issued reports about the stock. Scotiabank boosted their target price on shares of AltaGas from C$33.00 to C$35.00 and gave the company an “outperform” rating in a research note on Friday. Royal Bank of Canada upped their price objective on AltaGas from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research report on Friday. Jefferies Financial Group set a C$34.00 target price on AltaGas and gave the stock a “buy” rating in a research report on Tuesday, February 27th. TD Securities upped their price target on shares of AltaGas from C$32.00 to C$34.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Finally, National Bankshares raised their price objective on shares of AltaGas from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, AltaGas presently has a consensus rating of “Buy” and a consensus target price of C$34.15.

AltaGas Stock Down 0.1 %

ALA opened at C$30.36 on Monday. The stock has a market capitalization of C$8.97 billion, a price-to-earnings ratio of 13.43, a PEG ratio of -4.97 and a beta of 1.22. The firm has a 50 day moving average price of C$29.47 and a 200-day moving average price of C$28.17. AltaGas has a twelve month low of C$22.57 and a twelve month high of C$30.55. The company has a quick ratio of 0.44, a current ratio of 0.89 and a debt-to-equity ratio of 125.64.

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

Insider Buying and Selling at AltaGas

In related news, Director Jeremy Jason Weatherhead sold 12,215 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of C$29.60, for a total transaction of C$361,564.00. In other news, Director Jeremy Jason Weatherhead sold 12,215 shares of the firm’s stock in a transaction dated 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 business’s stock in a transaction dated 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. Insiders sold a total of 68,239 shares of company stock valued at $2,002,672 in the last three months. 0.57% of the stock is currently owned by corporate insiders.

AltaGas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were paid a $0.298 dividend. This represents a $1.19 annualized dividend and a yield of 3.93%. 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 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.