Jefferies Financial Group Issues Positive Forecast for AltaGas (TSE:ALA) Stock Price

AltaGas (TSE:ALA) had its price target upped by Jefferies Financial Group from C$49.00 to C$53.00 in a report released on Monday morning,BayStreet.CA reports.

ALA has been the topic of several other research reports. Scotiabank boosted their target price on shares of AltaGas from C$48.00 to C$50.00 in a research note on Tuesday, December 16th. ATB Cormark Capital Markets increased their target price on shares of AltaGas from C$48.00 to C$49.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 23rd. JPMorgan Chase & Co. lifted their price target on shares of AltaGas from C$45.00 to C$47.00 in a report on Wednesday, December 3rd. National Bank Financial boosted their price target on shares of AltaGas from C$46.00 to C$50.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Finally, Canadian Imperial Bank of Commerce upped their price objective on shares of AltaGas from C$47.00 to C$50.00 in a research note on Wednesday, December 17th. Seven 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of C$49.89.

AltaGas Price Performance

AltaGas stock opened at C$47.78 on Monday. The company has a debt-to-equity ratio of 126.46, a current ratio of 0.88 and a quick ratio of 0.44. The company has a market capitalization of C$14.86 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of -4.97 and a beta of 0.49. AltaGas has a one year low of C$35.33 and a one year high of C$48.32. The business has a 50 day simple moving average of C$43.07 and a 200 day simple moving average of C$42.47.

AltaGas (TSE:ALA) last announced its quarterly earnings results on Friday, March 6th. The company reported C$0.77 earnings per share for the quarter. AltaGas had a return on equity of 8.78% and a net margin of 6.15%.The firm had revenue of C$3.29 billion for the quarter. On average, sell-side analysts forecast that AltaGas will post 2.3006093 EPS for the current fiscal year.

AltaGas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were paid a $0.315 dividend. The ex-dividend date was Tuesday, December 16th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.6%. AltaGas’s dividend payout ratio (DPR) is 49.90%.

Trending Headlines about 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.