AltaGas (TSE:ALA) Price Target Raised to C$51.00 at TD Securities

AltaGas (TSE:ALA) had its price objective upped by TD Securities from C$48.00 to C$51.00 in a report issued on Monday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. ATB Cormark Capital Markets raised their price objective on shares of AltaGas from C$49.00 to C$52.00 and gave the stock an “outperform” rating in a research note on Monday. National Bank Financial increased their target price on AltaGas from C$46.00 to C$50.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Jefferies Financial Group raised their price target on AltaGas from C$49.00 to C$53.00 in a research report on Monday. JPMorgan Chase & Co. boosted their price target on AltaGas from C$45.00 to C$47.00 in a report on Wednesday, December 3rd. Finally, Canadian Imperial Bank of Commerce upped their price objective on AltaGas from C$47.00 to C$50.00 in a research report on Wednesday, December 17th. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$49.89.

AltaGas Price Performance

AltaGas stock opened at C$47.78 on Monday. The firm has a market capitalization of C$14.86 billion, a PE ratio of 19.19, a P/E/G ratio of -4.97 and a beta of 0.49. AltaGas has a 52 week low of C$35.33 and a 52 week high of C$48.32. The firm’s 50-day simple moving average is C$43.07 and its 200 day simple moving average is C$42.47. The company has a quick ratio of 0.44, a current ratio of 0.88 and a debt-to-equity ratio of 126.46.

AltaGas (TSE:ALA) last posted its earnings results on Friday, March 6th. The company reported C$0.77 earnings per share for the quarter. The firm had revenue of C$3.29 billion during the quarter. AltaGas had a net margin of 6.15% and a return on equity of 8.78%. On average, equities research analysts predict that AltaGas will post 2.3006093 EPS for the current fiscal year.

AltaGas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were issued a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Tuesday, December 16th. AltaGas’s payout ratio is presently 49.90%.

Key Headlines Impacting AltaGas

Here are the key news stories impacting AltaGas this week:

• Positive Sentiment: Royal Bank of Canada raised its price target to C$50 and kept an “outperform” rating, signaling confidence in AltaGas’s outlook. BayStreet.CA
• Positive Sentiment: National Bank Financial boosted its target to C$51 and maintained an “outperform” call, adding further upward pressure. BayStreet.CA
• Positive Sentiment: TD Securities raised its target to C$51 and kept a “buy” rating, reinforcing consensus bullishness among Canadian brokers. BayStreet.CA
• Positive Sentiment: ATB Cormark Capital Markets lifted its target to C$52 with an “outperform” rating, one of the higher raises in this wave. BayStreet.CA TickerReport
• Positive Sentiment: Scotiabank increased its target to C$52 and maintained an “outperform” view, contributing to the broad-based analyst support. BayStreet.CA
• Positive Sentiment: Jefferies raised its target to C$53, the highest among the recent updates, suggesting roughly double-digit upside vs. recent levels. BayStreet.CA
• Neutral Sentiment: Media coverage noted AltaGas’s recent quarterly profit increase, which underpins the analyst optimism but is already reflected in prior earnings releases. MSN: Market open

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