AltaGas (TSE:ALA) Given New C$52.00 Price Target at JPMorgan Chase & Co.

AltaGas (TSE:ALA) had its price objective raised by JPMorgan Chase & Co. from C$49.00 to C$52.00 in a research note published on Tuesday,BayStreet.CA reports.

A number of other research analysts have also issued reports on ALA. Jefferies Financial Group raised their price objective on shares of AltaGas from C$49.00 to C$53.00 in a report on Monday, March 9th. ATB Cormark Capital Markets raised their price objective on shares of AltaGas from C$49.00 to C$52.00 and gave the company an “outperform” rating in a report on Monday, March 9th. National Bank Financial raised their price objective on shares of AltaGas from C$50.00 to C$51.00 and gave the company an “outperform” rating in a report on Monday, March 9th. Canadian Imperial Bank of Commerce raised their price objective on shares of AltaGas from C$47.00 to C$50.00 in a report on Wednesday, December 17th. Finally, Scotiabank upped their target price on AltaGas from C$52.00 to C$54.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, AltaGas has a consensus rating of “Moderate Buy” and a consensus target price of C$50.67.

AltaGas Stock Down 1.4%

Shares of TSE ALA opened at C$47.86 on Tuesday. The company has a 50 day simple moving average of C$46.71 and a 200 day simple moving average of C$43.68. The firm has a market cap of C$14.89 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of -4.97 and a beta of 0.34. AltaGas has a 1 year low of C$37.08 and a 1 year high of C$50.27. The company has a debt-to-equity ratio of 118.25, a current ratio of 0.82 and a quick ratio of 0.44.

AltaGas (TSE:ALA) last issued its quarterly earnings data on Friday, March 6th. The company reported C$0.77 earnings per share (EPS) for the quarter. The business had revenue of C$3.29 billion during the quarter. AltaGas had a net margin of 6.14% and a return on equity of 8.74%. On average, research analysts forecast that AltaGas will post 2.3006093 EPS for the current year.

AltaGas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.334 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Monday, March 16th. This is a positive change from AltaGas’s previous quarterly dividend of $0.32. AltaGas’s dividend payout ratio (DPR) 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.