AltaGas (TSE:ALA) Issues Quarterly Earnings Results

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

AltaGas Stock Performance

TSE ALA opened at C$37.42 on Friday. The stock has a market capitalization of C$11.14 billion, a price-to-earnings ratio of 21.69, a PEG ratio of -4.97 and a beta of 1.23. AltaGas has a twelve month low of C$28.63 and a twelve month high of C$38.02. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. The stock has a 50-day moving average of C$34.48 and a 200 day moving average of C$34.06.

AltaGas Dividend Announcement

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

Insiders Place Their Bets

In other news, Senior Officer Vernon Dai-Chung Yu acquired 7,600 shares of the business’s stock in a transaction on Friday, December 13th. The stock was bought at an average cost 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 the company’s stock in a transaction that occurred 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. 0.58% of the stock is owned by company insiders.

Analyst Ratings Changes

ALA has been the subject of a number of research reports. CIBC lifted their price target on AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Thursday, January 9th. Scotiabank lifted their price target on AltaGas from C$39.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, AltaGas has an average rating of “Moderate Buy” and a consensus 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.