AltaGas Ltd. (TSE:ALA) Given Average Rating of “Moderate Buy” by Analysts

Shares of AltaGas Ltd. (TSE:ALA) have earned an average recommendation of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is C$48.11.

ALA has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on AltaGas from C$45.00 to C$47.00 in a research note on Wednesday, December 3rd. ATB Capital raised their target price on AltaGas from C$48.00 to C$49.00 and gave the company an “outperform” rating in a research note on Tuesday, December 23rd. Scotiabank lifted their target price on AltaGas from C$48.00 to C$50.00 in a report on Tuesday, December 16th. National Bankshares upped their price target on shares of AltaGas from C$46.00 to C$50.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Finally, Jefferies Financial Group lifted their price objective on shares of AltaGas from C$47.00 to C$48.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th.

AltaGas Price Performance

Shares of TSE ALA opened at C$41.99 on Thursday. The stock has a market cap of C$13.06 billion, a P/E ratio of 16.86, a P/E/G ratio of -4.97 and a beta of 0.43. The firm’s 50-day simple moving average is C$41.76 and its 200 day simple moving average is C$41.76. AltaGas has a fifty-two week low of C$32.14 and a fifty-two week high of C$44.37. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26.

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

AltaGas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were given a $0.315 dividend. The ex-dividend date was Tuesday, December 16th. This represents a $1.26 annualized dividend and a yield of 3.0%. AltaGas’s payout ratio is 49.90%.

AltaGas Company Profile

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. Natural gas is sold and purchased for both commercial and industrial users.