Brokerages Set AltaGas Ltd. (TSE:ALA) PT at C$48.11

Shares of AltaGas Ltd. (TSE:ALA) have received a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and seven have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$48.11.

ALA has been the topic of a number of research analyst reports. Royal Bank Of Canada boosted their price target on shares of AltaGas from C$44.00 to C$48.00 in a report on Friday, October 31st. Scotiabank boosted their target price on shares of AltaGas from C$48.00 to C$50.00 in a research note on Tuesday, December 16th. ATB Capital increased their target price on shares of AltaGas from C$48.00 to C$49.00 and gave the company an “outperform” rating in a research report on Tuesday, December 23rd. National Bankshares lifted their price target on shares of AltaGas from C$46.00 to C$50.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Finally, CIBC upped their price objective on AltaGas from C$47.00 to C$50.00 in a research note on Wednesday, December 17th.

AltaGas Stock Performance

Shares of ALA opened at C$40.82 on Friday. The stock has a 50 day moving average of C$42.11 and a 200 day moving average of C$41.52. The company has a market capitalization of C$12.70 billion, a price-to-earnings ratio of 16.39, a PEG ratio of -4.97 and a beta of 0.43. AltaGas has a 12 month low of C$32.14 and a 12 month high of C$44.37. 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 posted its quarterly earnings data on Thursday, October 30th. The company reported C($0.08) earnings per share for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%.The business had revenue of C$2.60 billion during the quarter. As a group, sell-side analysts forecast that AltaGas will post 2.3006093 earnings per share for the current year.

AltaGas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, December 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. Natural gas is sold and purchased for both commercial and industrial users.