AltaGas Ltd. (TSE:ALA) Given Average Rating of “Moderate Buy” by Brokerages

AltaGas Ltd. (TSE:ALA) has been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is C$49.89.

ALA has been the topic of several analyst reports. Scotiabank raised their target price on shares of AltaGas from C$50.00 to C$52.00 and gave the company an “outperform” rating in a report on Monday, March 9th. Jefferies Financial Group boosted their price target on shares of AltaGas from C$49.00 to C$53.00 in a report on Monday, March 9th. Canadian Imperial Bank of Commerce increased their price objective on shares of AltaGas from C$47.00 to C$50.00 in a research report on Wednesday, December 17th. JPMorgan Chase & Co. raised their price objective on shares of AltaGas from C$45.00 to C$47.00 in a report on Wednesday, December 3rd. Finally, TD Securities lifted their price objective on shares of AltaGas from C$48.00 to C$51.00 and gave the stock a “buy” rating in a research report on Monday, March 9th.

AltaGas Trading Down 0.6%

ALA opened at C$48.12 on Friday. The business has a fifty day moving average price of C$44.10 and a 200 day moving average price of C$42.83. The company has a debt-to-equity ratio of 118.25, a current ratio of 0.82 and a quick ratio of 0.44. AltaGas has a 12 month low of C$35.33 and a 12 month high of C$48.83. The stock has a market capitalization of C$14.97 billion, a price-to-earnings ratio of 19.33, a PEG ratio of -4.97 and a beta of 0.49.

AltaGas (TSE:ALA) last posted its quarterly earnings results on Friday, March 6th. The company reported C$0.77 earnings per share (EPS) for the quarter. The company had revenue of C$3.29 billion for the quarter. AltaGas had a return on equity of 8.74% and a net margin of 6.14%. Sell-side analysts expect that AltaGas will post 2.3006093 earnings per share for the current fiscal year.

AltaGas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st will be paid a $0.334 dividend. This is a boost from AltaGas’s previous quarterly dividend of $0.32. This represents a $1.34 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, March 16th. AltaGas’s payout ratio is 49.90%.

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.