Raymond James Research Analysts Decrease Earnings Estimates for AltaGas Ltd. (TSE:ALA)

AltaGas Ltd. (TSE:ALA) – Equities research analysts at Raymond James cut their Q2 2024 EPS estimates for shares of AltaGas in a note issued to investors on Wednesday, July 24th. Raymond James analyst D. Quezada now forecasts that the company will earn $0.14 per share for the quarter, down from their previous estimate of $0.16. Raymond James has a “Outperform” rating and a $35.00 price objective on the stock. The consensus estimate for AltaGas’ current full-year earnings is $2.14 per share. Raymond James also issued estimates for AltaGas’ Q2 2025 earnings at $0.26 EPS.

Several other equities research analysts have also weighed in on the company. National Bankshares lifted their price target on AltaGas from C$33.00 to C$35.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. BMO Capital Markets upped their target price on shares of AltaGas from C$36.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Thursday, May 30th. Scotiabank increased their price target on shares of AltaGas from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. boosted their price objective on shares of AltaGas from C$33.00 to C$36.00 in a research note on Friday, July 19th. Finally, CIBC raised their target price on shares of AltaGas from C$38.00 to C$40.00 in a research note on Monday, July 15th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, AltaGas presently has an average rating of “Buy” and an average price target of C$35.60.

AltaGas Stock Up 1.0 %

ALA stock opened at C$32.90 on Friday. The company has a market capitalization of C$9.74 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of -4.97 and a beta of 1.22. The company has a debt-to-equity ratio of 117.56, a quick ratio of 0.44 and a current ratio of 1.01. The business’s 50 day moving average price is C$30.88 and its two-hundred day moving average price is C$29.70. AltaGas has a fifty-two week low of C$24.10 and a fifty-two week high of C$33.07.

AltaGas (TSE:ALA) last released its quarterly earnings results on Thursday, May 2nd. The company reported C$1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.05 by C$0.09. The company had revenue of C$3.66 billion during the quarter, compared to the consensus estimate of C$4.13 billion. AltaGas had a net margin of 5.03% and a return on equity of 7.93%.

Insider Activity at AltaGas

In other AltaGas news, Director Angela S. Lekatsas acquired 2,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average cost of C$30.58 per share, with a total value of C$61,160.00. In related news, Director Deborah Susan Stein sold 1,650 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of C$30.64, for a total transaction of C$50,556.00. Also, Director Angela S. Lekatsas bought 2,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was acquired at an average cost of C$30.58 per share, with a total value of C$61,160.00. Over the last 90 days, insiders bought 20,500 shares of company stock valued at $627,795 and sold 172,750 shares valued at $5,257,062. 0.57% of the stock is owned by insiders.

AltaGas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 28th were issued a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Friday, June 14th. AltaGas’s payout ratio is 57.77%.

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.