AltaGas (TSE:ALA) Price Target Raised to C$54.00 at ATB Cormark Capital Markets

AltaGas (TSE:ALA) had its target price upped by ATB Cormark Capital Markets from C$52.00 to C$54.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

ALA has been the subject of several other research reports. JPMorgan Chase & Co. upped their target price on shares of AltaGas from C$49.00 to C$52.00 in a research note on Tuesday, April 14th. Scotiabank upped their target price on shares of AltaGas from C$52.00 to C$54.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Royal Bank Of Canada upped their target price on shares of AltaGas from C$48.00 to C$50.00 and gave the stock an “outperform” rating in a research note on Monday, March 9th. Jefferies Financial Group increased their price target on shares of AltaGas from C$49.00 to C$53.00 in a research report on Monday, March 9th. Finally, TD Securities increased their price target on shares of AltaGas from C$48.00 to C$51.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, AltaGas currently has an average rating of “Moderate Buy” and an average target price of C$50.89.

AltaGas Stock Performance

TSE ALA opened at C$49.73 on Thursday. AltaGas has a 1 year low of C$37.08 and a 1 year high of C$50.27. The company has a debt-to-equity ratio of 118.25, a current ratio of 0.82 and a quick ratio of 0.44. The firm has a market cap of C$15.47 billion, a price-to-earnings ratio of 20.05, a PEG ratio of -4.97 and a beta of 0.34. The company has a fifty day moving average price of C$47.58 and a 200-day moving average price of C$43.96.

AltaGas (TSE:ALA) last posted its earnings results on Friday, March 6th. The company reported C$0.77 earnings per share (EPS) for the quarter. AltaGas had a net margin of 6.14% and a return on equity of 8.74%. The firm had revenue of C$3.29 billion during the quarter. As a group, equities research analysts predict that AltaGas will post 2.3006093 EPS for the current fiscal year.

AltaGas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.334 per share. This represents a $1.34 annualized dividend and a yield of 2.7%. This is a boost from AltaGas’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Monday, March 16th. AltaGas’s payout ratio is currently 50.81%.

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.