AltaGas (TSE:ALA) Price Target Raised to C$26.00


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AltaGas (TSE:ALA) had its price target increased by National Bankshares from C$25.00 to C$26.00 in a research note released on Sunday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the company. Credit Suisse Group increased their target price on AltaGas from C$25.00 to C$27.00 in a research note on Friday, April 30th. TD Securities increased their target price on AltaGas from C$22.00 to C$25.00 and gave the stock a buy rating in a research note on Friday, April 30th. BMO Capital Markets increased their target price on AltaGas from C$24.00 to C$27.00 in a research note on Friday, April 30th. CSFB raised their price target on shares of AltaGas from C$25.00 to C$27.00 in a research note on Friday, April 30th. Finally, National Bank Financial raised their price target on shares of AltaGas to C$25.00 and gave the stock an outperform rating in a research note on Monday, April 26th. Twelve research analysts have rated the stock with a buy rating, AltaGas has a consensus rating of Buy and a consensus target price of C$25.25.

Shares of ALA stock opened at C$23.24 on Friday. The company has a debt-to-equity ratio of 105.29, a current ratio of 1.23 and a quick ratio of 0.63. The stock has a market cap of C$6.50 billion and a PE ratio of 18.14. The stock has a 50-day moving average of C$21.44 and a 200-day moving average of C$19.51. AltaGas has a one year low of C$14.55 and a one year high of C$23.29.

AltaGas (TSE:ALA) last posted its earnings results on Friday, February 26th. The company reported C$0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.44 by C$0.09. The business had revenue of C$1.69 billion for the quarter, compared to the consensus estimate of C$1.30 billion. As a group, research analysts anticipate that AltaGas will post 1.77 earnings per share for the current year.

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Tuesday, June 15th will be issued a $0.0833 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Friday, May 21st. AltaGas’s payout ratio is presently 75.97%.

About AltaGas

AltaGas Ltd. operates as a diversified energy infrastructure company in North America. The company operates through two segments, Utilities and Midstream. The Utilities segment owns and operates regulated natural gas distribution utilities in Michigan, Alaska, the District of Columbia, Maryland, and Virginia; and two regulated natural gas storage utilities in the United States serving approximately 1.7 million customers.

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Analyst Recommendations for AltaGas (TSE:ALA)

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