AltaGas Ltd. (TSE:ALA) Given Average Recommendation of “Buy” by Brokerages

AltaGas Ltd. (TSE:ALA) has been given an average rating of “Buy” by the eight analysts that are presently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have issued ratings on the stock in the last year is C$56.56.

Several equities analysts recently commented on ALA shares. Scotiabank increased their target price on AltaGas from C$57.00 to C$62.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 21st. BMO Capital Markets lifted their price target on AltaGas from C$54.00 to C$59.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. ATB Cormark Capital Markets upped their price objective on AltaGas from C$60.00 to C$63.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Royal Bank Of Canada increased their price objective on AltaGas from C$55.00 to C$59.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Finally, National Bank Financial raised their target price on AltaGas from C$52.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st.

AltaGas Stock Performance

TSE ALA opened at C$52.25 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.86 and a debt-to-equity ratio of 112.99. AltaGas has a 52 week low of C$39.45 and a 52 week high of C$57.52. The stock has a market capitalization of C$16.30 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of -4.97 and a beta of 0.33. The firm has a 50 day moving average of C$54.17 and a two-hundred day moving average of C$50.95.

AltaGas (TSE:ALA) last announced its quarterly earnings data on Thursday, July 30th. The company reported C$0.31 EPS for the quarter. The company had revenue of C$3.80 billion for the quarter. AltaGas had a net margin of 4.59% and a return on equity of 7.00%. As a group, research analysts expect that AltaGas will post 2.3006093 EPS for the current fiscal year.

AltaGas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a $0.334 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $1.34 annualized dividend and a dividend yield of 2.6%. AltaGas’s dividend payout ratio is presently 65.56%.

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.