AltaGas (ALA) – Analysts’ Weekly Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of AltaGas (TSE: ALA) in the last few weeks:

• 4/29/2022 – AltaGas had its price target raised by analysts at Royal Bank of Canada from C$31.00 to C$33.00. They now have an “outperform” rating on the stock.
• 4/29/2022 – AltaGas had its price target raised by analysts at National Bankshares, Inc. from C$31.00 to C$32.00. They now have an “outperform” rating on the stock.
• 4/29/2022 – AltaGas was given a new C$32.00 price target on by analysts at Raymond James. They now have an “outperform” rating on the stock.
• 4/29/2022 – AltaGas had its price target raised by analysts at TD Securities from C$32.00 to C$33.00. They now have a “buy” rating on the stock.
• 4/21/2022 – AltaGas had its price target raised by analysts at CIBC from C$33.00 to C$34.00. They now have an “outperform” rating on the stock.
• 4/19/2022 – AltaGas had its price target raised by analysts at JPMorgan Chase & Co. from C$31.00 to C$34.00.
• 4/19/2022 – AltaGas had its price target raised by analysts at Scotiabank from C$31.00 to C$33.00.
• 4/11/2022 – AltaGas had its price target raised by analysts at Credit Suisse Group AG to C$35.00. They now have an “outperform” rating on the stock.
• 4/11/2022 – AltaGas had its price target raised by analysts at CSFB from C$31.00 to C$35.00.

AltaGas stock opened at C$28.21 on Wednesday. AltaGas Ltd. has a 1-year low of C$23.46 and a 1-year high of C$31.16. The firm has a market capitalization of C$7.92 billion and a price-to-earnings ratio of 31.73. The company has a current ratio of 1.11, a quick ratio of 0.69 and a debt-to-equity ratio of 114.82. The firm has a 50 day simple moving average of C$28.95 and a 200 day simple moving average of C$27.22.

AltaGas (TSE:ALA – Get Rating) last released 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 analysts’ expectations of C$1.53 billion. On average, equities research analysts forecast that AltaGas Ltd. will post 1.9899999 EPS for the current year.

The firm also recently declared a monthly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Wednesday, June 15th. This represents a $3.18 annualized dividend and a dividend yield of 11.27%. This is a boost from AltaGas’s previous monthly dividend of $0.08. AltaGas’s dividend payout ratio (DPR) is presently 114.14%.

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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