AltaGas Ltd. (TSE:ALA) Receives C$49.89 Consensus Price Target from Analysts

Shares of AltaGas Ltd. (TSE:ALA) have received a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, 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 12 month price target among brokers that have issued a report on the stock in the last year is C$49.89.

A number of equities research analysts recently weighed in on ALA shares. Scotiabank boosted their price target on shares of AltaGas from C$50.00 to C$52.00 and gave the stock an “outperform” rating in a research note on Monday, March 9th. Royal Bank Of Canada raised their price objective on shares of AltaGas from C$48.00 to C$50.00 and gave the company an “outperform” rating in a research note on Monday, March 9th. Canadian Imperial Bank of Commerce upped their target price on shares of AltaGas from C$47.00 to C$50.00 in a research report on Wednesday, December 17th. TD Securities increased their price target on AltaGas from C$48.00 to C$51.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Finally, ATB Cormark Capital Markets increased their price target on AltaGas from C$49.00 to C$52.00 and gave the company an “outperform” rating in a research note on Monday, March 9th.

AltaGas Stock Performance

Shares of TSE:ALA opened at C$47.91 on Friday. The stock has a market capitalization of C$14.91 billion, a P/E ratio of 19.32, a P/E/G ratio of -4.97 and a beta of 0.49. AltaGas has a 1-year low of C$35.33 and a 1-year high of C$48.83. The company has a current ratio of 0.82, a quick ratio of 0.44 and a debt-to-equity ratio of 118.25. The business has a 50-day moving average price of C$44.25 and a two-hundred day moving average price of C$42.90.

AltaGas (TSE:ALA) last released its earnings results on Friday, March 6th. The company reported C$0.77 earnings per share (EPS) for the quarter. AltaGas had a net margin of 6.14% and a return on equity of 8.74%. The company had revenue of C$3.29 billion for the quarter. Equities analysts predict that AltaGas will post 2.3006093 earnings per share for the current year.

AltaGas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st will be issued a $0.334 dividend. This is a boost from AltaGas’s previous quarterly dividend of $0.32. This represents a $1.34 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, March 16th. AltaGas’s dividend payout ratio is currently 50.81%.

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.