AltaGas Ltd. (TSE:ALA) Receives Average Recommendation of “Moderate Buy” from Analysts

AltaGas Ltd. (TSE:ALA) has earned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is C$46.33.

A number of brokerages have recently issued reports on ALA. JPMorgan Chase & Co. lifted their price objective on shares of AltaGas from C$45.00 to C$47.00 in a research report on Wednesday, December 3rd. Scotiabank raised their price objective on AltaGas from C$46.00 to C$48.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. CIBC increased their price target on AltaGas from C$46.00 to C$47.00 in a research note on Friday, October 31st. Jefferies Financial Group boosted their price target on AltaGas from C$47.00 to C$48.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, Royal Bank Of Canada boosted their target price on shares of AltaGas from C$44.00 to C$48.00 in a research report on Friday, October 31st.

AltaGas Stock Down 1.4%

Shares of TSE ALA opened at C$41.34 on Wednesday. AltaGas has a 12-month low of C$32.02 and a 12-month high of C$44.37. The stock’s fifty day simple moving average is C$42.51 and its two-hundred day simple moving average is C$41.06. The stock has a market capitalization of C$12.86 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of -4.97 and a beta of 0.35. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26.

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

AltaGas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 29th were issued a $0.315 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.0%. AltaGas’s dividend payout ratio is currently 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.