Altagas Ltd (TSE:ALA) – Investment analysts at National Bank Financial issued their Q1 2019 earnings estimates for shares of Altagas in a report released on Wednesday, April 24th. National Bank Financial analyst P. Kenny anticipates that the company will earn $0.62 per share for the quarter. National Bank Financial has a “Sector Perform” rating and a $17.00 price target on the stock.
A number of other equities research analysts have also issued reports on the stock. BMO Capital Markets increased their price objective on shares of Altagas from C$17.00 to C$18.00 in a report on Saturday, April 13th. JPMorgan Chase & Co. increased their price objective on shares of Altagas from C$14.00 to C$16.00 in a report on Tuesday, March 19th. Raymond James reaffirmed a “market perform” rating and set a C$19.00 price objective on shares of Altagas in a report on Friday, March 1st. Desjardins increased their price objective on shares of Altagas from C$16.00 to C$19.00 in a report on Friday, March 1st. Finally, Cormark raised shares of Altagas from a “market perform” rating to a “buy” rating and cut their price objective for the company from C$24.00 to C$20.00 in a report on Tuesday, February 12th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of C$19.68.
Shares of ALA opened at C$17.73 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.98 and a debt-to-equity ratio of 133.07. Altagas has a 1 year low of C$11.87 and a 1 year high of C$28.45. The company has a market cap of $4.81 billion and a price-to-earnings ratio of -7.87.
Altagas (TSE:ALA) last released its earnings results on Thursday, February 28th. The company reported C$0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.52 by C($0.08). The company had revenue of C$1.73 billion for the quarter, compared to the consensus estimate of C$1.41 billion.
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, April 25th will be issued a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date of this dividend is Wednesday, April 24th. Altagas’s dividend payout ratio (DPR) is currently -92.61%.
AltaGas Ltd. operates as a diversified energy infrastructure company in North America. The company operates through three segments: Utilities, Midstream, and Power. The Utilities segment owns and operates regulated natural gas distribution utilities in Michigan, Alaska, the District of Columbia, Maryland, and Virginia; and 2 regulated natural gas storage utilities in the United States serving approximately 1.6 million customers.