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

Shares of AltaGas Ltd. (TSE:ALA) have been given an average rating of “Buy” by the seven analysts that are presently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is C$54.25.

ALA has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price target on shares of AltaGas from C$49.00 to C$52.00 in a research note on Tuesday, April 14th. Scotiabank increased their price target 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. ATB Cormark Capital Markets increased their price target 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. TD Securities increased their price target on shares of AltaGas from C$48.00 to C$51.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Finally, Royal Bank Of Canada increased their price target 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.

AltaGas Stock Performance

Shares of ALA opened at C$54.89 on Wednesday. The company’s 50 day simple moving average is C$51.30 and its 200-day simple moving average is C$46.27. The firm has a market cap of C$17.10 billion, a PE ratio of 33.47, a price-to-earnings-growth ratio of -4.97 and a beta of 0.33. AltaGas has a 12-month low of C$37.80 and a 12-month high of C$56.32. The company has a current ratio of 0.88, a quick ratio of 0.44 and a debt-to-equity ratio of 115.95.

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

AltaGas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.334 per share. The ex-dividend date is Tuesday, June 16th. This represents a $1.34 dividend on an annualized basis and a yield of 2.4%. AltaGas’s dividend payout ratio is currently 77.99%.

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.