AltaGas Ltd. (TSE:ALA) Given Consensus Recommendation of “Buy” by Brokerages

AltaGas Ltd. (TSE:ALA) has received a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have covered the stock in the last year is C$54.25.

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of AltaGas from C$49.00 to C$52.00 in a research report on Tuesday, April 14th. TD Securities boosted their price objective on shares of AltaGas from C$48.00 to C$51.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Jefferies Financial Group boosted their price objective on shares of AltaGas from C$49.00 to C$53.00 in a research report on Monday, March 9th. Royal Bank Of Canada boosted their price objective on shares of AltaGas from C$50.00 to C$55.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Finally, National Bank Financial boosted their price objective on shares of AltaGas from C$52.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st.

AltaGas Stock Performance

Shares of ALA stock opened at C$55.76 on Wednesday. The company’s fifty day simple moving average is C$51.04 and its 200-day simple moving average is C$46.12. The company has a quick ratio of 0.44, a current ratio of 0.88 and a debt-to-equity ratio of 115.95. The firm has a market cap of C$17.37 billion, a PE ratio of 34.00, a P/E/G ratio of -4.97 and a beta of 0.33. AltaGas has a 12 month low of C$37.73 and a 12 month high of C$56.32.

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

AltaGas Announces Dividend

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

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.