AltaGas (TSE:ALA) Price Target Raised to C$47.00

AltaGas (TSE:ALA) had its price objective lifted by JPMorgan Chase & Co. from C$45.00 to C$47.00 in a research report sent to investors on Wednesday,BayStreet.CA reports.

A number of other research analysts have also issued reports on ALA. Scotiabank lifted their price objective on AltaGas from C$46.00 to C$48.00 and gave the company an “outperform” rating in a report on Monday, October 6th. TD Securities boosted their price target on AltaGas from C$45.00 to C$48.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Jefferies Financial Group upped their price objective on shares of AltaGas from C$47.00 to C$48.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Royal Bank Of Canada raised their target price on shares of AltaGas from C$44.00 to C$48.00 in a report on Friday, October 31st. Finally, ATB Capital boosted their target price on shares of AltaGas from C$42.00 to C$43.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Seven analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$46.33.

AltaGas Stock Performance

Shares of ALA opened at C$42.23 on Wednesday. The stock has a market capitalization of C$13.14 billion, a price-to-earnings ratio of 16.96, a PEG ratio of -4.97 and a beta of 0.35. AltaGas has a 12 month low of C$32.02 and a 12 month high of C$44.37. The firm has a fifty day simple moving average of C$42.56 and a 200 day simple moving average of C$40.96. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26.

AltaGas (TSE:ALA) last issued its quarterly earnings results on Thursday, October 30th. The company reported C($0.08) EPS for the quarter. The company had revenue of C$2.60 billion for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%. Research analysts forecast that AltaGas will post 2.3006093 EPS for the current fiscal year.

AltaGas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 29th were given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, September 16th. AltaGas’s dividend payout ratio is currently 49.90%.

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.