National Bank Financial Issues Positive Forecast for AltaGas (TSE:ALA) Stock Price

AltaGas (TSE:ALA) had its target price raised by National Bank Financial from C$51.00 to C$52.00 in a report released on Friday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

ALA has been the topic of a number of other research reports. ATB Cormark Capital Markets lifted their price target on shares of AltaGas from C$54.00 to C$56.00 and gave the company an “outperform” rating in a research note on Friday. Royal Bank Of Canada lifted their price target on shares of AltaGas from C$50.00 to C$55.00 and gave the company an “outperform” rating in a research note on Friday. Scotiabank lifted their price target on shares of AltaGas from C$52.00 to C$54.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Jefferies Financial Group lifted their price target on shares of AltaGas from C$49.00 to C$53.00 in a research note on Monday, March 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of AltaGas from C$49.00 to C$52.00 in a research note on Tuesday, April 14th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, AltaGas has a consensus rating of “Buy” and a consensus price target of C$53.25.

AltaGas Stock Up 2.5%

ALA traded up C$1.29 during trading on Friday, reaching C$52.20. The company had a trading volume of 1,195,935 shares, compared to its average volume of 1,021,574. The company has a debt-to-equity ratio of 115.95, a current ratio of 0.88 and a quick ratio of 0.44. AltaGas has a 12 month low of C$37.08 and a 12 month high of C$52.50. The business’s fifty day moving average price is C$48.13 and its 200 day moving average price is C$44.23. The company has a market cap of C$16.24 billion, a P/E ratio of 21.05, a PEG ratio of -4.97 and a beta of 0.34.

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

AltaGas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were given a $0.334 dividend. This is a boost from AltaGas’s previous quarterly dividend of $0.32. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, March 16th. AltaGas’s payout ratio is presently 50.81%.

Key Headlines Impacting AltaGas

Here are the key news stories impacting AltaGas this week:

• Positive Sentiment: Record Q1 results and outlook improvement — AltaGas reported C$1.33 EPS on C$3.97B revenue, highlighted a solid net margin and ROE, and raised 2026 capital spending guidance; this underpins the bullish tone from analysts. View Press Release
• Positive Sentiment: ATB Cormark raised its price target to C$56 and maintained an “outperform” rating, signaling further upside in analyst estimates. BayStreet.CA
• Positive Sentiment: RBC increased its target to C$55 and kept an “outperform” rating, adding institutional weight to the rally. BayStreet.CA
• Positive Sentiment: Scotiabank bumped its target to C$57 with a “sector outperform” call, the highest of the recent upgrades and a clear vote of confidence. BayStreet.CA
• Positive Sentiment: Business development catalyst — AltaGas is expanding propane customer reach in Asia amid ongoing supply shocks, which supports international demand dynamics for its commodity-linked businesses. Expansion Article
• Neutral Sentiment: National Bank Financial raised its target to C$52 (from C$51) but that target sits slightly below the current market price, making its impact mixed. BayStreet.CA
• Neutral Sentiment: Media coverage and inclusion in investor “top picks” lists and 52-week-high roundups add retail/institutional visibility but are secondary to fundamentals and analyst views. MSN Yahoo

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.