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

AltaGas Ltd. (TSE:ALA) has received a consensus rating of “Buy” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is C$54.88.

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of AltaGas from C$49.00 to C$52.00 in a research report on Tuesday, April 14th. ATB Cormark Capital Markets boosted their target price on AltaGas from C$54.00 to C$56.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. National Bank Financial upped their target price on AltaGas from C$52.00 to C$60.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Royal Bank Of Canada increased their price target on AltaGas from C$50.00 to C$55.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Finally, Scotiabank raised their price target on AltaGas from C$57.00 to C$62.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 21st.

AltaGas Trading Up 0.2%

ALA stock opened at C$55.64 on Thursday. AltaGas has a twelve month low of C$39.45 and a twelve month high of C$57.52. The stock has a market capitalization of C$17.34 billion, a price-to-earnings ratio of 33.93, a price-to-earnings-growth ratio of -4.97 and a beta of 0.35. The company has a quick ratio of 0.43, a current ratio of 0.88 and a debt-to-equity ratio of 115.95. The firm’s fifty day simple moving average is C$54.41 and its two-hundred day simple moving average is C$49.43.

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

AltaGas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were given a $0.334 dividend. This represents a $1.34 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, June 16th. AltaGas’s dividend payout ratio is 77.99%.

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.