AltaGas (TSE:ALA) Price Target Raised to C$50.00

AltaGas (TSE:ALA) had its price objective raised by National Bankshares from C$46.00 to C$50.00 in a research report report published on Wednesday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other research firms have also commented on ALA. JPMorgan Chase & Co. increased their price target on shares of AltaGas from C$45.00 to C$47.00 in a research report on Wednesday, December 3rd. Scotiabank boosted their price objective on shares of AltaGas from C$48.00 to C$50.00 in a research note on Tuesday. Royal Bank Of Canada raised their target price on shares of AltaGas from C$44.00 to C$48.00 in a research note on Friday, October 31st. CIBC lifted their price target on shares of AltaGas from C$46.00 to C$47.00 in a report on Friday, October 31st. Finally, Jefferies Financial Group increased their price objective on AltaGas from C$47.00 to C$48.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, AltaGas currently has an average rating of “Moderate Buy” and an average target price of C$47.44.

AltaGas Stock Performance

Shares of AltaGas stock opened at C$41.08 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. The stock’s fifty day moving average price is C$42.27 and its 200-day moving average price is C$41.19. The firm has a market cap of C$12.78 billion, a P/E ratio of 16.50, a P/E/G ratio of -4.97 and a beta of 0.35. AltaGas has a 12 month low of C$32.10 and a 12 month high of C$44.37.

AltaGas (TSE:ALA) last issued its earnings results on Thursday, October 30th. The company reported C($0.08) earnings per share (EPS) for the quarter. The business had revenue of C$2.60 billion for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. On average, equities research analysts expect that AltaGas will post 2.3006093 earnings per share for the current fiscal year.

AltaGas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st will be issued a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, December 16th. AltaGas’s dividend payout ratio is presently 49.90%.

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.