AltaGas Ltd. (TSE:ALA) Receives C$48.11 Consensus Price Target from Analysts

AltaGas Ltd. (TSE:ALA) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is C$48.11.

ALA has been the topic of a number of recent research reports. Royal Bank Of Canada lifted their target price on AltaGas from C$44.00 to C$48.00 in a research report on Friday, October 31st. JPMorgan Chase & Co. raised their price target on shares of AltaGas from C$45.00 to C$47.00 in a research note on Wednesday, December 3rd. National Bankshares lifted their price objective on shares of AltaGas from C$46.00 to C$50.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Scotiabank increased their target price on shares of AltaGas from C$48.00 to C$50.00 in a report on Tuesday, December 16th. Finally, Jefferies Financial Group increased their target price on shares of AltaGas from C$47.00 to C$48.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th.

AltaGas Trading Up 1.4%

ALA opened at C$41.63 on Thursday. The stock has a market capitalization of C$12.95 billion, a P/E ratio of 16.72, a P/E/G ratio of -4.97 and a beta of 0.43. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. AltaGas has a 12 month low of C$32.14 and a 12 month high of C$44.37. The firm’s fifty day simple moving average is C$41.63 and its 200 day simple moving average is C$41.79.

AltaGas (TSE:ALA) last released its earnings results on Thursday, October 30th. The company reported C($0.08) earnings per share (EPS) for the quarter. The firm 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%. As a group, research analysts anticipate that AltaGas will post 2.3006093 EPS for the current fiscal year.

AltaGas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Tuesday, December 16th. AltaGas’s dividend payout ratio is currently 49.90%.

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.