Royal Bank Of Canada Issues Positive Forecast for AltaGas (TSE:ALA) Stock Price

AltaGas (TSE:ALA) had its target price increased by Royal Bank Of Canada from C$48.00 to C$50.00 in a research note released on Monday,BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also recently weighed in on ALA. National Bank Financial upped their price objective on shares of AltaGas from C$50.00 to C$51.00 and gave the stock an “outperform” rating in a research report on Monday. Jefferies Financial Group lifted their target price on shares of AltaGas from C$49.00 to C$53.00 in a research report on Monday. ATB Cormark Capital Markets upped their price target on shares of AltaGas from C$49.00 to C$52.00 and gave the stock an “outperform” rating in a research report on Monday. Canadian Imperial Bank of Commerce upped their price target on shares of AltaGas from C$47.00 to C$50.00 in a research report on Wednesday, December 17th. Finally, TD Securities raised their price target on shares of AltaGas from C$48.00 to C$51.00 and gave the company a “buy” rating in a research note on Monday. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$49.89.

AltaGas Stock Performance

Shares of ALA stock opened at C$47.78 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.44 and a debt-to-equity ratio of 126.46. AltaGas has a 12-month low of C$35.33 and a 12-month high of C$48.32. The business’s 50 day moving average is C$43.07 and its two-hundred day moving average is C$42.47. The company has a market capitalization of C$14.86 billion, a P/E ratio of 19.19, a P/E/G ratio of -4.97 and a beta of 0.49.

AltaGas (TSE:ALA) last posted its quarterly earnings data on Friday, March 6th. The company reported C$0.77 EPS for the quarter. The business had revenue of C$3.29 billion during the quarter. AltaGas had a return on equity of 8.78% and a net margin of 6.15%. Analysts expect that AltaGas will post 2.3006093 EPS for the current fiscal year.

AltaGas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were given a dividend of $0.315 per share. The ex-dividend date was Tuesday, December 16th. This represents a $1.26 dividend on an annualized basis and a yield of 2.6%. 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

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.