FY2024 EPS Estimates for AltaGas Raised by Atb Cap Markets

AltaGas Ltd. (TSE:ALA) – Atb Cap Markets lifted their FY2024 EPS estimates for AltaGas in a research report issued on Thursday, October 31st. Atb Cap Markets analyst N. Heywood now anticipates that the company will earn $2.16 per share for the year, up from their previous estimate of $2.12. The consensus estimate for AltaGas’ current full-year earnings is $2.30 per share.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada lifted their price target on shares of AltaGas from C$37.00 to C$40.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. ATB Capital set a C$36.00 price target on AltaGas and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. lowered AltaGas from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from C$36.00 to C$37.00 in a research report on Wednesday, October 23rd. Scotiabank lifted their price target on AltaGas from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group boosted their target price on AltaGas from C$37.00 to C$39.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$38.10.

AltaGas Price Performance

ALA stock opened at C$33.12 on Monday. The firm has a 50 day moving average of C$34.07 and a 200-day moving average of C$32.01. The firm has a market capitalization of C$9.85 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The company has a current ratio of 0.85, a quick ratio of 0.44 and a debt-to-equity ratio of 115.50. AltaGas has a 12 month low of C$26.10 and a 12 month high of C$35.77.

AltaGas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Monday, December 16th. AltaGas’s payout ratio is 82.07%.

Insider Activity at AltaGas

In other AltaGas news, Senior Officer Randy Warren Toone sold 3,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of C$33.82, for a total value of C$101,460.00. In related news, Senior Officer Bertram Grant Bradley sold 7,500 shares of AltaGas stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$33.61, for a total transaction of C$252,075.00. Also, Senior Officer Randy Warren Toone sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of C$33.82, for a total value of C$101,460.00. Insiders have sold a total of 33,320 shares of company stock valued at $1,125,051 over the last quarter. 0.58% of the stock is owned by corporate insiders.

AltaGas Company Profile

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.