AltaGas (ALA) to Release Earnings on Friday

AltaGas (TSE:ALA – Get Free Report) will be issuing its quarterly earnings data before the market opens on Friday, July 28th. Analysts expect the company to announce earnings of C$0.17 per share for the quarter.

AltaGas (TSE:ALA – Get Free Report) last posted its quarterly earnings data on Wednesday, April 26th. The company reported C$0.98 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.86 by C$0.12. The business had revenue of C$4.05 billion during the quarter, compared to the consensus estimate of C$3.82 billion. AltaGas had a return on equity of 8.20% and a net margin of 4.17%.

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AltaGas Stock Up 1.1 %

Shares of ALA opened at C$24.70 on Friday. The stock’s 50-day moving average price is C$23.81 and its two-hundred day moving average price is C$23.64. AltaGas has a 12 month low of C$21.25 and a 12 month high of C$30.32. The company has a market capitalization of C$6.96 billion, a PE ratio of 14.36, a PEG ratio of -4.97 and a beta of 1.29. The company has a current ratio of 0.99, a quick ratio of 0.44 and a debt-to-equity ratio of 111.00.

AltaGas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 30th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend was Thursday, June 15th. AltaGas’s dividend payout ratio is presently 65.12%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Canaccord Genuity Group decreased their price objective on shares of AltaGas from C$30.00 to C$28.00 in a research report on Wednesday, March 29th. CSFB lowered their price objective on AltaGas from C$33.00 to C$32.50 in a research report on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$31.46.

About AltaGas

(Get Free Report)

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 1.7 million customers.

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