AltaGas Ltd. (TSE:ALA) Receives C$50.11 Average Price Target from Analysts

AltaGas Ltd. (TSE:ALA) has received an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is C$50.67.

A number of analysts have recently commented on ALA shares. TD Securities lifted 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. JPMorgan Chase & Co. raised their price objective on shares of AltaGas from C$49.00 to C$52.00 in a report on Tuesday. Scotiabank lifted their target price on shares of AltaGas from C$52.00 to C$54.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Jefferies Financial Group boosted their target price on shares of AltaGas from C$49.00 to C$53.00 in a report on Monday, March 9th. Finally, Royal Bank Of Canada upped their price target on shares of AltaGas from C$48.00 to C$50.00 and gave the company an “outperform” rating in a research report on Monday, March 9th.

AltaGas Stock Up 1.7%

Shares of TSE:ALA opened at C$49.52 on Tuesday. AltaGas has a 52-week low of C$37.08 and a 52-week high of C$50.27. The company has a market capitalization of C$15.41 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of -4.97 and a beta of 0.34. The company has a debt-to-equity ratio of 118.25, a quick ratio of 0.44 and a current ratio of 0.82. The company has a fifty day moving average of C$46.96 and a 200-day moving average of C$43.76.

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

AltaGas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were issued a $0.334 dividend. The ex-dividend date was Monday, March 16th. This is a positive change from AltaGas’s previous quarterly dividend of $0.32. This represents a $1.34 dividend on an annualized basis and a yield of 2.7%. 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.