Shares of Altagas Ltd (TSE:ALA) have earned a consensus rating of “Buy” from the nine ratings firms that are covering the company, reports. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is C$27.39.

ALA has been the subject of several analyst reports. CIBC lowered their price objective on Altagas from C$32.00 to C$30.00 in a research note on Tuesday, September 11th. Industrial Alliance Securities lowered their price objective on Altagas from C$30.00 to C$29.50 in a research note on Thursday, August 2nd. BMO Capital Markets lowered their price objective on Altagas from C$26.00 to C$23.00 in a research note on Monday, September 17th. National Bank Financial lowered their price objective on Altagas from C$28.00 to C$26.00 and set a “sector perform” rating for the company in a research note on Friday, September 14th. Finally, TD Securities lowered their price objective on Altagas from C$37.00 to C$32.00 and set a “buy” rating for the company in a research note on Tuesday, July 10th.

In related news, Director Phillip R. Knoll acquired 2,500 shares of the stock in a transaction dated Tuesday, September 25th. The stock was acquired at an average cost of C$20.91 per share, with a total value of C$52,275.00.

TSE ALA traded up C$0.02 during trading on Wednesday, hitting C$20.73. 2,239,630 shares of the stock traded hands, compared to its average volume of 906,539. Altagas has a 12-month low of C$20.36 and a 12-month high of C$30.06.

Altagas (TSE:ALA) last released its quarterly earnings results on Wednesday, August 1st. The company reported C$0.13 earnings per share for the quarter, beating the consensus estimate of C$0.11 by C$0.02. The business had revenue of C$610.00 million during the quarter, compared to analysts’ expectations of C$627.43 million. Altagas had a negative return on equity of 5.43% and a negative net margin of 3.60%.

The business also recently disclosed a monthly dividend, which will be paid on Monday, October 15th. Stockholders of record on Tuesday, September 25th will be paid a $0.183 dividend. This represents a $2.20 annualized dividend and a dividend yield of 10.59%. The ex-dividend date is Monday, September 24th.

About Altagas

AltaGas Ltd. operates as a diversified energy infrastructure company in North America. It operates through three segments: Gas, Power, and Utilities. The Gas segment engages in natural gas gathering and processing; natural gas liquids (NGL) extraction and separation, transmission, and storage; and natural gas and NGL marketing activities, as well as buying and selling natural gas.

Further Reading: Earnings Per Share (EPS)

Analyst Recommendations for Altagas (TSE:ALA)

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