AltaGas Ltd. (TSE:ALA) Given Average Rating of “Buy” by Brokerages

Shares of AltaGas Ltd. (TSE:ALA) have earned a consensus recommendation of “Buy” from the eight research firms that are covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have covered the stock in the last year is C$56.56.

ALA has been the subject of a number of recent analyst reports. National Bank Financial lifted 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. ATB Cormark Capital Markets increased their price objective on AltaGas from C$60.00 to C$63.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Scotiabank raised their target price on AltaGas from C$57.00 to C$62.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 21st. Royal Bank Of Canada upped their price target on AltaGas from C$55.00 to C$59.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Finally, BMO Capital Markets increased their price target on shares of AltaGas from C$54.00 to C$59.00 and gave the company an “outperform” rating in a research note on Friday, July 31st.

AltaGas Stock Performance

Shares of TSE:ALA opened at C$53.65 on Monday. AltaGas has a 52 week low of C$39.45 and a 52 week high of C$57.52. The company’s 50 day moving average is C$54.38 and its two-hundred day moving average is C$50.54. The company has a market cap of C$16.74 billion, a PE ratio of 27.10, a P/E/G ratio of -4.97 and a beta of 0.33. The company has a current ratio of 0.86, a quick ratio of 0.43 and a debt-to-equity ratio of 112.99.

AltaGas (TSE:ALA) last released its quarterly earnings data on Thursday, July 30th. The company reported C$0.31 earnings per share (EPS) for the quarter. The business had revenue of C$3.80 billion during the quarter. AltaGas had a net margin of 4.59% and a return on equity of 7.00%. Equities analysts predict that AltaGas will post 2.3006093 earnings per share for the current fiscal year.

AltaGas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a $0.334 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $1.34 annualized dividend and a dividend yield of 2.5%. AltaGas’s dividend payout ratio is presently 65.56%.

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.