AltaGas (TSE:ALA) Price Target Raised to C$59.00 at BMO Capital Markets

AltaGas (TSE:ALA) had its target price lifted by BMO Capital Markets from C$54.00 to C$59.00 in a research note released on Friday,BayStreet.CA reports. They currently have an outperform rating on the stock.

Other equities analysts have also issued reports about the stock. ATB Cormark Capital Markets lifted their price objective on shares of AltaGas from C$60.00 to C$63.00 and gave the company an “outperform” rating in a research report on Friday. National Bank Financial upped their price objective on shares of AltaGas from C$52.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Royal Bank Of Canada raised their target price on shares of AltaGas from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. lifted their target price on shares of AltaGas from C$49.00 to C$52.00 in a report on Tuesday, April 14th. Finally, Scotiabank boosted their price target on shares of 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. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$56.56.

AltaGas Stock Down 0.1%

ALA opened at C$55.78 on Friday. The business has a 50 day moving average price of C$54.49 and a two-hundred day moving average price of C$49.58. The company has a quick ratio of 0.43, a current ratio of 0.86 and a debt-to-equity ratio of 112.99. The company has a market cap of C$17.38 billion, a PE ratio of 34.01, a P/E/G ratio of -4.97 and a beta of 0.35. AltaGas has a 52 week low of C$39.45 and a 52 week high of C$57.52.

AltaGas (TSE:ALA) last announced its earnings results on Thursday, July 30th. The company reported C$0.31 earnings per share for the quarter. The company had revenue of C$3.80 billion for the quarter. AltaGas had a return on equity of 7.00% and a net margin of 4.59%. As a group, research analysts anticipate that AltaGas will post 2.3006093 EPS 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. The ex-dividend date was Tuesday, June 16th. This represents a $1.34 annualized dividend and a yield of 2.4%. AltaGas’s dividend payout ratio is presently 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.