AltaGas Ltd. (TSE:ALA) Receives C$54.25 Consensus Target Price from Brokerages

AltaGas Ltd. (TSE:ALA) has been given an average recommendation of “Buy” by the seven analysts that are presently covering the firm, Marketbeat reports. Seven equities 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.

ALA has been the subject of a number of research reports. Scotiabank lifted their target price on AltaGas from C$54.00 to C$57.00 and gave the company a “sector outperform” rating in a research note on Friday, May 1st. Jefferies Financial Group increased their price target on AltaGas from C$49.00 to C$53.00 in a research report on Monday, March 9th. National Bank Financial raised their price target on AltaGas from C$52.00 to C$60.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Royal Bank Of Canada boosted their price objective on AltaGas from C$50.00 to C$55.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Finally, TD Securities upped their price target 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.

AltaGas Stock Down 0.5%

Shares of TSE:ALA opened at C$52.13 on Friday. The stock has a market capitalization of C$16.24 billion, a price-to-earnings ratio of 31.79, a price-to-earnings-growth ratio of -4.97 and a beta of 0.33. AltaGas has a 1-year low of C$38.14 and a 1-year high of C$56.74. The company’s fifty day moving average is C$53.07 and its two-hundred day moving average is C$47.64. The company has a debt-to-equity ratio of 115.95, a quick ratio of 0.43 and a current ratio of 0.88.

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

AltaGas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a $0.334 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $1.34 annualized dividend and a dividend yield of 2.6%. AltaGas’s dividend payout ratio is presently 77.99%.

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.