AltaGas (TSE:ALA) Given New C$56.00 Price Target at ATB Cormark Capital Markets

AltaGas (TSE:ALA) had its price objective hoisted by ATB Cormark Capital Markets from C$54.00 to C$56.00 in a report published on Friday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of AltaGas from C$49.00 to C$52.00 in a research note on Tuesday, April 14th. Jefferies Financial Group boosted their target price on shares of AltaGas from C$49.00 to C$53.00 in a research note on Monday, March 9th. TD Securities boosted their target price on shares of AltaGas from C$48.00 to C$51.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Royal Bank Of Canada boosted their target price on shares of AltaGas from C$48.00 to C$50.00 and gave the company an “outperform” rating in a research note on Monday, March 9th. Finally, National Bank Financial boosted their price target on shares of AltaGas from C$50.00 to C$51.00 and gave the stock an “outperform” rating in a research report on Monday, March 9th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$53.25.

AltaGas Stock Performance

AltaGas stock traded up C$1.29 during midday trading on Friday, reaching C$52.20. 1,195,935 shares of the stock traded hands, compared to its average volume of 1,021,574. The company has a current ratio of 0.88, a quick ratio of 0.44 and a debt-to-equity ratio of 115.95. The firm has a fifty day moving average price of C$48.13 and a two-hundred day moving average price of C$44.23. The firm has a market cap of C$16.24 billion, a price-to-earnings ratio of 21.05, a PEG ratio of -4.97 and a beta of 0.34. AltaGas has a fifty-two week low of C$37.08 and a fifty-two week high of C$52.50.

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

AltaGas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were given a dividend of $0.334 per share. This is a positive change from AltaGas’s previous quarterly dividend of $0.32. The ex-dividend date was Monday, March 16th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.6%. AltaGas’s payout ratio is presently 50.81%.

More AltaGas News

Here are the key news stories impacting AltaGas this week:

• Positive Sentiment: Record Q1 results and outlook improvement — AltaGas reported C$1.33 EPS on C$3.97B revenue, highlighted a solid net margin and ROE, and raised 2026 capital spending guidance; this underpins the bullish tone from analysts. View Press Release
• Positive Sentiment: ATB Cormark raised its price target to C$56 and maintained an “outperform” rating, signaling further upside in analyst estimates. BayStreet.CA
• Positive Sentiment: RBC increased its target to C$55 and kept an “outperform” rating, adding institutional weight to the rally. BayStreet.CA
• Positive Sentiment: Scotiabank bumped its target to C$57 with a “sector outperform” call, the highest of the recent upgrades and a clear vote of confidence. BayStreet.CA
• Positive Sentiment: Business development catalyst — AltaGas is expanding propane customer reach in Asia amid ongoing supply shocks, which supports international demand dynamics for its commodity-linked businesses. Expansion Article
• Neutral Sentiment: National Bank Financial raised its target to C$52 (from C$51) but that target sits slightly below the current market price, making its impact mixed. BayStreet.CA
• Neutral Sentiment: Media coverage and inclusion in investor “top picks” lists and 52-week-high roundups add retail/institutional visibility but are secondary to fundamentals and analyst views. MSN Yahoo

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.