AltaGas Ltd reports results for the quarter ended March 31 - Earnings Summary

• AltaGas Ltd ALA.TO reported quarterly adjusted earnings of C$1.14​​ per share for the quarter ended March 31, identical to the same quarter last year. The mean expectation of seven analysts for the quarter was for earnings of C$1.13 per share. Wall Street expected results to range from C$1.12 to C$1.16 per share.

• Revenue rose 8.6% to C$3.97 billion from a year ago; analysts expected C$3.64 billion.

• AltaGas Ltd's reported EPS for the quarter was C$1.31​.

• The company reported quarterly net income of C$392 million.

• AltaGas Ltd shares had risen by 3.4% this quarter and gained 21.9% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 2.1% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy," 2 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the natural gas utilities peer group is also "buy"

• Wall Street's median 12-month price target for AltaGas Ltd is C$40.00

This summary was machine generated from LSEG data May 1 at 01:32 p.m. UTC. ​All figures in Canadian dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)