Altagas Ltd Forecasted to Earn Q4 2019 Earnings of $0.54 Per Share (TSE:ALA)

Altagas Ltd (TSE:ALA) – Stock analysts at National Bank Financial issued their Q4 2019 EPS estimates for Altagas in a report released on Tuesday, February 11th. National Bank Financial analyst P. Kenny expects that the company will post earnings per share of $0.54 for the quarter. National Bank Financial currently has a “Outperform” rating and a $25.00 target price on the stock.

A number of other research firms have also weighed in on ALA. Scotiabank raised their price objective on shares of Altagas from C$21.00 to C$22.00 in a research note on Friday, February 7th. Raymond James restated a “market perform” rating and set a C$19.00 price objective on shares of Altagas in a research note on Thursday, October 31st. CIBC raised their price objective on shares of Altagas from C$22.00 to C$23.00 in a research note on Wednesday, January 15th. BMO Capital Markets restated an “outperform” rating and set a C$23.00 price objective on shares of Altagas in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Altagas from C$21.00 to C$22.00 in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of C$22.10.

TSE:ALA opened at C$22.33 on Thursday. The firm has a market cap of $6.06 billion and a P/E ratio of 5.88. The company has a debt-to-equity ratio of 102.83, a quick ratio of 0.26 and a current ratio of 0.50. Altagas has a fifty-two week low of C$15.13 and a fifty-two week high of C$22.33. The firm has a 50-day simple moving average of C$20.39 and a two-hundred day simple moving average of C$19.63.

In other news, Director Allan Leslie Edgeworth acquired 4,000 shares of Altagas stock in a transaction on Tuesday, November 26th. The stock was acquired at an average cost of C$19.93 per share, for a total transaction of C$79,720.00. Following the purchase, the director now owns 36,896 shares in the company, valued at C$735,337.28.

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 16th. Shareholders of record on Tuesday, February 25th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.96 dividend on an annualized basis and a yield of 4.30%. Altagas’s dividend payout ratio is currently 30.70%.

About Altagas

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.

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