Analysts Set AltaGas Ltd. (TSE:ALA) PT at C$45.67

AltaGas Ltd. (TSE:ALA) has been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is C$45.67.

Several equities research analysts recently commented on ALA shares. Jefferies Financial Group upped their target price on AltaGas from C$47.00 to C$48.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Royal Bank Of Canada boosted their price target on AltaGas from C$44.00 to C$48.00 in a research note on Friday, October 31st. Scotiabank increased their price target on AltaGas from C$46.00 to C$48.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. TD Securities lifted their price objective on shares of AltaGas from C$45.00 to C$48.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Finally, National Bankshares boosted their target price on shares of AltaGas from C$44.00 to C$45.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th.

AltaGas Trading Up 0.2%

TSE:ALA opened at C$43.56 on Friday. AltaGas has a 52 week low of C$32.02 and a 52 week high of C$43.93. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03. The firm’s fifty day moving average is C$42.28 and its 200-day moving average is C$40.52. The firm has a market cap of C$13.05 billion, a P/E ratio of 17.49, a P/E/G ratio of -4.97 and a beta of 0.23.

AltaGas (TSE:ALA) last announced its earnings results on Thursday, October 30th. The company reported C($0.08) earnings per share for the quarter. The firm had revenue of C$2.60 billion for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. Equities analysts expect that AltaGas will post 2.3006093 earnings per share for the current year.

AltaGas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 29th were given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, September 16th. AltaGas’s dividend payout ratio is 49.90%.

About AltaGas

AltaGas Ltd owns and operates a diversified basket of energy infrastructure businesses. Business is conducted through four segments: Midstream, power, utilities and corporate. Utility business owns and operates rate-regulated natural gas distribution assets across North America. Midstream business subsequent to the sale of non-core midstream assets in Canada and also engaged in the natural gas liquid processing and extraction, transportation, and storage.