Brokers Set Expectations for Altagas Ltd’s Q3 2017 Earnings (ALA)

Altagas Ltd (TSE:ALA) – Analysts at National Bank Financial issued their Q3 2017 earnings estimates for shares of Altagas in a research note issued on Monday. National Bank Financial analyst P. Kenny forecasts that the company will post earnings of $0.18 per share for the quarter.

Altagas (TSE:ALA) last issued its quarterly earnings data on Thursday, July 27th. The company reported C$0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$0.16 by C$0.01. Altagas had a negative return on equity of 0.93% and a net margin of 1.84%. The business had revenue of C$539.00 million for the quarter, compared to the consensus estimate of C$633.11 million.

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Several other research firms have also issued reports on ALA. Beacon Securities restated a “buy” rating on shares of Altagas in a research note on Thursday, September 21st. Canaccord Genuity dropped their price objective on Altagas from C$33.00 to C$31.00 and set a “hold” rating on the stock in a research note on Tuesday, July 25th. BMO Capital Markets set a C$32.00 price objective on Altagas and gave the company a “market perform” rating in a research note on Friday, July 28th. Finally, Royal Bank Of Canada dropped their price objective on Altagas from C$35.00 to C$33.00 and set a “sector perform” rating on the stock in a research note on Friday, July 28th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Altagas currently has a consensus rating of “Buy” and an average target price of C$35.11.

Altagas (TSE:ALA) opened at 28.28 on Wednesday. The firm has a 50-day moving average price of $28.14 and a 200 day moving average price of $29.40. The company has a market capitalization of $4.85 billion and a P/E ratio of 43.84. Altagas has a 12 month low of $26.87 and a 12 month high of $35.55.

The company also recently announced a monthly dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, September 25th were paid a dividend of $0.175 per share. The ex-dividend date of this dividend was Friday, September 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.43%.

Altagas Company Profile

AltaGas Ltd is a Canada-based energy infrastructure company. The Company operates through three segments: Gas, Power and Utilities. The Gas segment transacts approximately two billion cubic feet per day (Bcf/d) of natural gas and includes natural gas gathering and processing, natural gas liquids extraction and separation, transmission, storage and natural gas marketing, as well as its interest in Petrogas Energy Corp.

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