AltaGas Ltd. (TSE:ALA – Free Report) – Investment analysts at Atb Cap Markets raised their Q3 2024 earnings estimates for AltaGas in a note issued to investors on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now forecasts that the company will post earnings of $0.10 per share for the quarter, up from their prior forecast of $0.09. The consensus estimate for AltaGas’ current full-year earnings is $2.30 per share.
AltaGas (TSE:ALA – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported C$0.14 EPS for the quarter, topping analysts’ consensus estimates of C$0.12 by C$0.02. The business had revenue of C$2.78 billion for the quarter, compared to analyst estimates of C$2.54 billion. AltaGas had a return on equity of 5.78% and a net margin of 3.58%.
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AltaGas Trading Down 4.3 %
ALA opened at C$34.08 on Thursday. AltaGas has a 1-year low of C$24.67 and a 1-year high of C$35.77. The stock has a market capitalization of C$10.14 billion, a PE ratio of 23.50, a PEG 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. The firm has a 50-day moving average price of C$34.01 and a two-hundred day moving average price of C$31.76.
Insider Buying and Selling
In other AltaGas news, Director Aaron Bishop sold 19,820 shares of AltaGas stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of C$33.58, for a total value of C$665,555.60. In other news, Senior Officer Randy Warren Toone sold 3,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of C$33.82, for a total value of C$101,460.00. Also, Director Aaron Bishop sold 19,820 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of C$33.58, for a total value of C$665,555.60. In the last ninety days, insiders sold 33,320 shares of company stock valued at $1,125,051. Company insiders own 0.58% of the company’s stock.
AltaGas Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were given a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Monday, September 16th. AltaGas’s dividend payout ratio is currently 82.07%.
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.
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