AltaGas (TSE:ALA) Posts Quarterly Earnings Results

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

AltaGas Trading Up 3.8 %

Shares of ALA traded up C$1.37 during mid-day trading on Friday, hitting C$37.42. 1,064,887 shares of the company’s stock traded hands, compared to its average volume of 766,116. The business’s 50-day moving average price is C$34.40 and its 200-day moving average price is C$34.03. AltaGas has a 1 year low of C$28.63 and a 1 year high of C$38.02. The firm has a market capitalization of C$11.14 billion, a P/E ratio of 21.69, a PEG ratio of -4.97 and a beta of 1.23. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26.

AltaGas Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on ALA shares. CIBC boosted their price objective on AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a report on Thursday, January 9th. Scotiabank lifted their price objective on shares of AltaGas from C$39.00 to C$40.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$38.40.

Insider Activity at AltaGas

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

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.