AltaGas Ltd. (TSE:ALA) Receives C$54.25 Consensus Target Price from Brokerages

Shares of AltaGas Ltd. (TSE:ALA) have been assigned an average rating of “Buy” from the seven analysts that are currently covering the company, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is C$54.25.

A number of research firms recently commented on ALA. ATB Cormark Capital Markets boosted their price target on AltaGas from C$54.00 to C$56.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Jefferies Financial Group increased their price objective on shares of AltaGas from C$49.00 to C$53.00 in a report on Monday, March 9th. Royal Bank Of Canada lifted their price objective on shares of AltaGas from C$50.00 to C$55.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. TD Securities boosted their target price on shares of AltaGas from C$48.00 to C$51.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of AltaGas from C$49.00 to C$52.00 in a report on Tuesday, April 14th.

AltaGas Price Performance

TSE:ALA opened at C$52.69 on Friday. 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 business’s 50-day simple moving average is C$53.16 and its two-hundred day simple moving average is C$47.68. The stock has a market cap of C$16.42 billion, a PE ratio of 32.13, a P/E/G ratio of -4.97 and a beta of 0.33. AltaGas has a 52 week low of C$38.14 and a 52 week high of C$56.74.

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

AltaGas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were issued a $0.334 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Tuesday, June 16th. AltaGas’s payout ratio is currently 77.99%.

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.