Alta gas stock globe and mail
AltaGas Ltd. (ALA.TO) is a Canadian energy infrastructure company that operates in the midstream and utility sectors. Here are some key points about AltaGas stock, as reported by The Globe and Mail:
Recent Performance:
- AltaGas stock has been trading relatively flat over the past year, with a slight decline of around 5%.
- In the past 52 weeks, the stock has traded between $12.50 and $16.50.
Financials:
- AltaGas reported a net loss of $143 million in the fourth quarter of 2020, compared to a net income of $143 million in the same period the previous year.
- The company's revenue decreased by 14% to $1.1 billion in the fourth quarter of 2020, due to lower natural gas prices and reduced volumes.
- AltaGas has a debt-to-equity ratio of around 0.7, which is considered relatively high.
Outlook:
- AltaGas expects its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to decline by around 10% in 2021, due to lower natural gas prices and reduced volumes.
- The company is focused on reducing its debt and improving its financial flexibility, and has announced plans to sell non-core assets and reduce its capital spending.
Valuation:
- AltaGas stock trades at a price-to-earnings ratio (P/E) of around 12.5, which is slightly lower than the industry average.
- The stock has a dividend yield of around 4.5%, which is relatively attractive compared to other energy stocks.
Analyst Estimates:
- The average analyst estimate for AltaGas' 2021 earnings per share is around $0.45, which represents a decline of around 20% from the previous year.
- The average analyst target price for the stock is around $14.50, which represents a potential upside of around 15% from the current price.
Overall, AltaGas stock has been trading relatively flat over the past year, and the company is facing challenges in the current market environment. However, the stock may offer attractive value for investors looking for a relatively low-risk energy stock with a decent dividend yield.