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

Shares of AltaGas Ltd. (TSE:ALA) have been given a consensus recommendation of “Buy” by the seven research firms that are presently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have issued a report on the stock in the last year is C$54.25.

Several brokerages have recently issued reports on ALA. ATB Cormark Capital Markets lifted their price target on AltaGas from C$54.00 to C$56.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Scotiabank lifted their price target 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. JPMorgan Chase & Co. lifted their price target on AltaGas from C$49.00 to C$52.00 in a research note on Tuesday, April 14th. TD Securities lifted their price target on AltaGas from C$48.00 to C$51.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Finally, Royal Bank Of Canada lifted their price target on AltaGas from C$50.00 to C$55.00 and gave the company an “outperform” rating in a research note on Friday, May 1st.

AltaGas Trading Up 0.1%

Shares of ALA opened at C$53.92 on Wednesday. AltaGas has a 52-week low of C$37.73 and a 52-week high of C$54.75. The business’s fifty day moving average is C$50.47 and its 200-day moving average is C$45.79. The company has a debt-to-equity ratio of 115.95, a quick ratio of 0.44 and a current ratio of 0.88. The firm has a market cap of C$16.80 billion, a price-to-earnings ratio of 32.88, a PEG ratio of -4.97 and a beta of 0.38.

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

AltaGas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were given a dividend of $0.334 per share. The ex-dividend date was Monday, March 16th. This represents a $1.34 dividend on an annualized basis and a yield of 2.5%. This is an increase from AltaGas’s previous quarterly dividend of $0.32. 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.