AltaGas (TSE:ALA) Price Target Increased to C$35.00 by Analysts at ATB Capital

AltaGas (TSE:ALA) had its target price increased by ATB Capital from C$34.00 to C$35.00 in a research note released on Friday, BayStreet.CA reports.

Other equities research analysts have also issued reports about the company. CSFB decreased their price target on AltaGas from C$33.00 to C$32.50 in a research note on Tuesday, May 9th. TD Securities decreased their target price on AltaGas from C$34.00 to C$32.00 and set a buy rating for the company in a research report on Monday, July 31st. Finally, Royal Bank of Canada lifted their target price on AltaGas from C$30.00 to C$31.00 and gave the company an outperform rating in a research report on Monday, July 31st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of C$32.08.

AltaGas Price Performance

Shares of ALA stock opened at C$27.23 on Friday. AltaGas has a 52-week low of C$21.25 and a 52-week high of C$29.63. The company has a debt-to-equity ratio of 110.58, a quick ratio of 0.44 and a current ratio of 1.00. The firm has a market capitalization of C$7.67 billion, a P/E ratio of 13.22, a P/E/G ratio of -4.97 and a beta of 1.30. The stock has a 50 day moving average price of C$25.12 and a 200 day moving average price of C$23.96.

AltaGas (TSE:ALA) last issued its quarterly earnings results on Friday, July 28th. The company reported C$0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.09 by C($0.03). AltaGas had a return on equity of 9.08% and a net margin of 5.05%. The business had revenue of C$2.63 billion for the quarter, compared to the consensus estimate of C$3.27 billion. As a group, sell-side analysts predict that AltaGas will post 2.0504518 earnings per share for the current year.

AltaGas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 29th will be issued a $0.28 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.11%. AltaGas’s dividend payout ratio is presently 52.91%.

About AltaGas

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 franchised, cost-of-service, 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.