AltaGas (TSE:ALA) Price Target Raised to C$51.00

AltaGas (TSE:ALA) had its target price hoisted by TD Securities from C$48.00 to C$51.00 in a report issued on Monday morning,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on ALA. National Bank Financial boosted their target price on shares of AltaGas from C$46.00 to C$50.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Canadian Imperial Bank of Commerce raised their price target on shares of AltaGas from C$47.00 to C$50.00 in a report on Wednesday, December 17th. ATB Cormark Capital Markets boosted their price objective on shares of AltaGas from C$49.00 to C$52.00 and gave the stock an “outperform” rating in a research report on Monday. Scotiabank upped their price objective on AltaGas from C$50.00 to C$52.00 and gave the stock an “outperform” rating in a report on Monday. Finally, JPMorgan Chase & Co. increased their price objective on AltaGas from C$45.00 to C$47.00 in a research report on Wednesday, December 3rd. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$49.89.

AltaGas Price Performance

AltaGas stock opened at C$47.32 on Monday. The business’s fifty day moving average is C$43.29 and its two-hundred day moving average is C$42.54. The company has a debt-to-equity ratio of 126.46, a quick ratio of 0.44 and a current ratio of 0.88. The firm has a market cap of C$14.72 billion, a P/E ratio of 19.00, a P/E/G ratio of -4.97 and a beta of 0.49. AltaGas has a 52 week low of C$35.33 and a 52 week high of C$48.32.

AltaGas (TSE:ALA) last released its quarterly earnings results on Friday, March 6th. The company reported C$0.77 earnings per share (EPS) for the quarter. The business had revenue of C$3.29 billion during the quarter. AltaGas had a return on equity of 8.78% and a net margin of 6.15%. Equities research analysts forecast that AltaGas will post 2.3006093 earnings per share for the current fiscal year.

AltaGas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, December 16th. AltaGas’s 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.