AltaGas Ltd. (TSE:ALA) Receives Average Rating of “Buy” from Brokerages

AltaGas Ltd. (TSE:ALA) has earned an average rating of “Buy” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have covered the stock in the last year is C$53.25.

Several analysts have issued reports on ALA shares. ATB Cormark Capital Markets increased their target price on shares of AltaGas from C$54.00 to C$56.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. National Bank Financial increased their target price on shares of AltaGas from C$51.00 to C$52.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Royal Bank Of Canada increased their target price on shares of AltaGas from C$50.00 to C$55.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Scotiabank increased their target price on shares of AltaGas from C$54.00 to C$57.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 1st. Finally, Jefferies Financial Group increased their target price on shares of AltaGas from C$49.00 to C$53.00 in a research note on Monday, March 9th.

AltaGas Stock Performance

TSE ALA opened at C$50.77 on Friday. AltaGas has a 1 year low of C$37.08 and a 1 year high of C$53.06. The company has a debt-to-equity ratio of 115.95, a current ratio of 0.88 and a quick ratio of 0.44. The stock has a market capitalization of C$15.82 billion, a PE ratio of 30.96, a P/E/G ratio of -4.97 and a beta of 0.38. The company’s 50 day simple moving average is C$48.47 and its two-hundred day simple moving average is C$44.44.

AltaGas (TSE:ALA) last posted its earnings results on Thursday, April 30th. The company reported C$1.33 earnings per share (EPS) for the quarter. AltaGas had a net margin of 4.02% and a return on equity of 5.92%. The business had revenue of C$3.97 billion for the quarter. Analysts predict that AltaGas will post 2.3006093 earnings per share for the current fiscal year.

AltaGas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were issued a $0.334 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, March 16th. This is a positive change from AltaGas’s previous quarterly dividend of $0.32. 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.