AltaGas (TSE:ALA) Price Target Raised to C$53.00

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

A number of other brokerages have also recently weighed in on ALA. Scotiabank raised their price target on AltaGas from C$48.00 to C$50.00 in a research report on Tuesday, December 16th. National Bank Financial increased their price objective on shares of AltaGas from C$46.00 to C$50.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Canadian Imperial Bank of Commerce raised their target price on shares of AltaGas from C$47.00 to C$50.00 in a report on Wednesday, December 17th. JPMorgan Chase & Co. lifted their target price on shares of AltaGas from C$45.00 to C$47.00 in a research report on Wednesday, December 3rd. Finally, ATB Cormark Capital Markets upped their price target on shares of AltaGas from C$48.00 to C$49.00 and gave the company an “outperform” rating in a report on Tuesday, December 23rd. Seven analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$49.89.

AltaGas Stock Performance

ALA opened at C$47.32 on Monday. The stock has a market cap of C$14.72 billion, a P/E ratio of 19.00, a P/E/G ratio of -4.97 and a beta of 0.49. 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 stock’s 50 day simple moving average is C$43.29 and its 200 day simple moving average is C$42.54. AltaGas has a 1-year low of C$35.33 and a 1-year high of C$48.32.

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. The firm had revenue of C$3.29 billion during the quarter. AltaGas had a return on equity of 8.78% and a net margin of 6.15%. As a group, equities analysts anticipate that AltaGas will post 2.3006093 EPS for the current fiscal year.

AltaGas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were given a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Tuesday, December 16th. AltaGas’s dividend payout ratio is currently 49.90%.

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.