Beacon Securities Comments on Altagas Ltd’s Q3 2017 Earnings (ALA)

Altagas Ltd (TSE:ALA) – Analysts at Beacon Securities cut their Q3 2017 earnings per share (EPS) estimates for Altagas in a note issued to investors on Monday. Beacon Securities analyst L. Dunkley now expects that the company will post earnings per share of $0.17 for the quarter, down from their prior forecast of $0.38. Beacon Securities currently has a “Buy” rating on the stock. Beacon Securities also issued estimates for Altagas’ Q4 2017 earnings at $0.32 EPS and FY2017 earnings at $0.63 EPS.

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

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Several other equities analysts also recently commented on the company. Royal Bank Of Canada lowered their price target on Altagas from C$35.00 to C$33.00 and set a “sector perform” rating on the stock in a report on Friday, July 28th. BMO Capital Markets set a C$32.00 price target on Altagas and gave the company a “market perform” rating in a report on Friday, July 28th. Finally, Canaccord Genuity lowered their price target on Altagas from C$33.00 to C$31.00 and set a “hold” rating on the stock in a report on Tuesday, July 25th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of C$35.11.

Shares of Altagas (TSE ALA) opened at 29.54 on Thursday. The stock has a market capitalization of $5.07 billion and a P/E ratio of 45.80. Altagas has a 12-month low of $26.87 and a 12-month high of $35.55. The company has a 50-day moving average of $28.20 and a 200-day moving average of $29.40.

The business also recently disclosed a monthly dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, September 25th were paid a $0.175 dividend. The ex-dividend date of this dividend was Friday, September 22nd. This represents a $2.10 annualized dividend and a dividend yield of 7.11%.

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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