AltaGas (TSE:ALA) PT Raised to C$32.00

AltaGas (TSE:ALAGet Rating) had its target price upped by National Bankshares from C$31.00 to C$32.00 in a research report report published on Friday morning, BayStreet.CA reports.

Several other equities analysts have also issued reports on the stock. Scotiabank boosted their target price on shares of AltaGas from C$31.00 to C$33.00 in a report on Tuesday, April 19th. Credit Suisse Group boosted their target price on shares of AltaGas to C$35.00 and gave the company an outperform rating in a report on Monday, April 11th. Royal Bank of Canada restated an outperform rating and issued a C$31.00 target price on shares of AltaGas in a report on Tuesday, January 4th. ATB Capital boosted their target price on shares of AltaGas from C$30.00 to C$32.00 and gave the company an outperform rating in a report on Monday, March 7th. Finally, CSFB upped their price objective on shares of AltaGas from C$31.00 to C$35.00 in a report on Monday, April 11th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from, the stock presently has an average rating of Buy and a consensus target price of C$32.11.

Shares of TSE:ALA opened at C$29.38 on Friday. The firm has a market cap of C$8.23 billion and a PE ratio of 35.83. The firm’s fifty day moving average is C$28.82 and its 200-day moving average is C$27.08. The company has a debt-to-equity ratio of 114.56, a quick ratio of 0.57 and a current ratio of 0.99. AltaGas has a 52 week low of C$22.90 and a 52 week high of C$31.16.

AltaGas (TSE:ALAGet Rating) last issued its quarterly earnings results on Friday, March 4th. The company reported C$0.38 EPS for the quarter, missing analysts’ consensus estimates of C$0.40 by C($0.02). The firm had revenue of C$3.14 billion for the quarter, compared to the consensus estimate of C$1.53 billion. Sell-side analysts forecast that AltaGas will post 1.98 EPS for the current year.

The firm also recently announced a monthly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th will be given a dividend of $0.265 per share. The ex-dividend date is Wednesday, June 15th. This is an increase from AltaGas’s previous monthly dividend of $0.08. This represents a $3.18 annualized dividend and a dividend yield of 10.82%. AltaGas’s payout ratio is presently 129.27%.

About AltaGas (Get Rating)

AltaGas Ltd. operates as an energy infrastructure company in North America. The company operates through Utilities and Midstream segments. The Utilities segment owns and operates rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.7 million customers.

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