AltaGas Ltd. (TSE:ALA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of AltaGas Ltd. (TSE:ALA) have been assigned a consensus rating of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating and seven have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is C$46.33.

ALA has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on AltaGas from C$45.00 to C$47.00 in a research note on Wednesday, December 3rd. Scotiabank increased their price objective on shares of AltaGas from C$46.00 to C$48.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. CIBC lifted their price objective on shares of AltaGas from C$46.00 to C$47.00 in a research note on Friday, October 31st. Jefferies Financial Group boosted their target price 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. Finally, Royal Bank Of Canada raised their price target on shares of AltaGas from C$44.00 to C$48.00 in a report on Friday, October 31st.

AltaGas Stock Performance

TSE:ALA opened at C$41.79 on Wednesday. The firm’s fifty day simple moving average is C$42.41 and its 200 day simple moving average is C$41.13. 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 has a twelve month low of C$32.02 and a twelve month high of C$44.37. The firm has a market capitalization of C$13.00 billion, a price-to-earnings ratio of 16.78, a PEG ratio of -4.97 and a beta of 0.35.

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

AltaGas Announces Dividend

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

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.