AltaGas Ltd. (TSE:ALA) Receives C$54.88 Consensus Price Target from Brokerages

AltaGas Ltd. (TSE:ALA) has been given a consensus recommendation of “Buy” by the seven brokerages that are currently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have issued a report on the stock in the last year is C$54.88.

ALA has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on AltaGas from C$49.00 to C$52.00 in a research note on Tuesday, April 14th. Scotiabank boosted their price target on AltaGas from C$57.00 to C$62.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 21st. Royal Bank Of Canada upped their price target on AltaGas from C$50.00 to C$55.00 and gave the company an “outperform” rating in a report on Friday, May 1st. National Bank Financial lifted their price objective on AltaGas from C$52.00 to C$60.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Finally, ATB Cormark Capital Markets boosted their price objective on shares of AltaGas from C$54.00 to C$56.00 and gave the company an “outperform” rating in a report on Friday, May 1st.

AltaGas Trading Up 0.4%

TSE:ALA opened at C$57.18 on Thursday. The company’s 50 day moving average price is C$54.27 and its 200-day moving average price is C$49.06. AltaGas has a 52 week low of C$39.45 and a 52 week high of C$57.52. The company has a quick ratio of 0.43, a current ratio of 0.88 and a debt-to-equity ratio of 115.95. The stock has a market cap of C$17.82 billion, a price-to-earnings ratio of 34.87, a PEG ratio of -4.97 and a beta of 0.35.

AltaGas (TSE:ALA) last announced its quarterly earnings results on Thursday, April 30th. The company reported C$1.33 earnings per share for the quarter. AltaGas had a net margin of 4.02% and a return on equity of 5.92%. The company had revenue of C$3.97 billion during the quarter. On average, equities research analysts forecast that AltaGas will post 2.3006093 earnings per share for the current fiscal year.

AltaGas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.334 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $1.34 annualized dividend and a dividend yield of 2.3%. AltaGas’s dividend payout ratio is presently 77.99%.

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.