AltaGas (TSE:ALA) Releases Earnings Results

AltaGas (TSE:ALA) issued its earnings results on Friday. The company reported C$0.76 earnings per share (EPS) for the quarter, RTT News reports. AltaGas had a return on equity of 6.36% and a net margin of 4.04%.

AltaGas Price Performance

ALA stock opened at C$37.42 on Friday. AltaGas has a 52-week low of C$28.63 and a 52-week high of C$38.02. The stock’s fifty day simple moving average is C$34.48 and its 200-day simple moving average is C$34.07. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26. The stock has a market capitalization of C$11.14 billion, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23.

AltaGas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.298 per share. This represents a $1.19 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Monday, December 16th. AltaGas’s dividend payout ratio (DPR) is 68.98%.

Insider Transactions at AltaGas

In other news, Senior Officer Vernon Dai-Chung Yu bought 7,600 shares of AltaGas stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average price of C$32.97 per share, for a total transaction of C$250,549.20. Also, Senior Officer Donald Mark Jenkins sold 12,352 shares of AltaGas stock in a transaction on Monday, January 13th. The shares were sold at an average price of C$33.90, for a total value of C$418,732.80. Insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ALA shares. CIBC increased their target price on AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th. Scotiabank raised their price objective on AltaGas from C$39.00 to C$40.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$38.40.

AltaGas Company Profile

AltaGas Ltd owns and operates a diversified basket of energy infrastructure businesses. Business is conducted through four segments: Midstream, power, utilities and corporate. Utility business owns and operates rate-regulated natural gas distribution assets across North America. Midstream business subsequent to the sale of non-core midstream assets in Canada and also engaged in the natural gas liquid processing and extraction, transportation, and storage.