AltaGas (TSE:ALA) Price Target Raised to C$59.00 at Royal Bank Of Canada

AltaGas (TSE:ALA) had its target price upped by Royal Bank Of Canada from C$55.00 to C$59.00 in a research report sent to investors on Friday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

ALA has been the subject of a number of other research reports. Scotiabank upped their price target on AltaGas from C$57.00 to C$62.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 21st. ATB Cormark Capital Markets boosted their price objective on AltaGas from C$54.00 to C$56.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. boosted their price objective on AltaGas from C$49.00 to C$52.00 in a research report on Tuesday, April 14th. Finally, National Bank Financial increased their target price on AltaGas from C$52.00 to C$60.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$56.56.

AltaGas Stock Down 0.1%

ALA stock opened at C$55.78 on Friday. The firm has a market cap of C$17.38 billion, a PE ratio of 34.01, a P/E/G ratio of -4.97 and a beta of 0.35. The company has a debt-to-equity ratio of 112.99, a quick ratio of 0.43 and a current ratio of 0.86. The firm’s fifty day moving average is C$54.49 and its 200 day moving average is C$49.58. AltaGas has a one year low of C$39.45 and a one year high of C$57.52.

AltaGas (TSE:ALA) last issued its quarterly earnings data on Thursday, July 30th. The company reported C$0.31 earnings per share for the quarter. AltaGas had a net margin of 4.59% and a return on equity of 7.00%. The business had revenue of C$3.80 billion during the quarter. On average, research analysts forecast that AltaGas will post 2.3006093 EPS for the current year.

AltaGas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were given a dividend of $0.334 per share. This represents a $1.34 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Tuesday, June 16th. AltaGas’s dividend payout ratio is 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.