AltaGas Ltd. (TSE:ALA) Given Consensus Rating of “Buy” by Analysts

Shares of AltaGas Ltd. (TSE:ALA) have been assigned a consensus recommendation of “Buy” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have issued a report on the stock in the last year is C$56.56.

ALA has been the topic of a number of recent analyst reports. Royal Bank Of Canada boosted their price objective on shares of AltaGas from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. BMO Capital Markets lifted their target price on AltaGas from C$54.00 to C$59.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. ATB Cormark Capital Markets boosted their price target on AltaGas from C$60.00 to C$63.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Scotiabank increased their price target on AltaGas from C$57.00 to C$62.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 21st. Finally, National Bank Financial raised their price objective on AltaGas from C$52.00 to C$60.00 and gave the company an “outperform” rating in a research note on Monday, June 1st.

AltaGas Stock Down 2.8%

TSE ALA opened at C$52.25 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.86 and a debt-to-equity ratio of 112.99. AltaGas has a fifty-two week low of C$39.45 and a fifty-two week high of C$57.52. The business has a 50 day moving average price of C$53.97 and a two-hundred day moving average price of C$51.86. The stock has a market cap of C$16.30 billion, a PE ratio of 26.39, a P/E/G ratio of -4.97 and a beta of 0.28.

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

AltaGas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.334 per share. This represents a $1.34 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Tuesday, June 16th. AltaGas’s dividend payout ratio is 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.