AltaGas (TSE:ALA) Price Target Raised to C$52.00

AltaGas (TSE:ALA) had its price target upped by ATB Cormark Capital Markets from C$49.00 to C$52.00 in a report released on Monday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Other analysts also recently issued reports about the stock. Jefferies Financial Group boosted their target price on shares of AltaGas from C$49.00 to C$53.00 in a research note on Monday. National Bank Financial lifted their price target on AltaGas from C$46.00 to C$50.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Canadian Imperial Bank of Commerce increased their price objective on AltaGas from C$47.00 to C$50.00 in a research note on Wednesday, December 17th. Scotiabank raised their price objective on AltaGas from C$50.00 to C$52.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their target price on AltaGas from C$45.00 to C$47.00 in a research note on Wednesday, December 3rd. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$49.89.

AltaGas Stock Performance

Shares of ALA opened at C$47.32 on Monday. The company has a 50-day moving average of C$43.29 and a two-hundred day moving average of C$42.54. The stock has a market cap of C$14.72 billion, a price-to-earnings ratio of 19.00, a PEG ratio of -4.97 and a beta of 0.49. The company has a debt-to-equity ratio of 126.46, a current ratio of 0.88 and a quick ratio of 0.44. AltaGas has a one year low of C$35.33 and a one year high of C$48.32.

AltaGas (TSE:ALA) last issued its quarterly earnings results on Friday, March 6th. The company reported C$0.77 EPS for the quarter. AltaGas had a net margin of 6.15% and a return on equity of 8.78%. The business had revenue of C$3.29 billion during the quarter. On average, equities research analysts expect that AltaGas will post 2.3006093 earnings per share for the current year.

AltaGas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were issued a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Tuesday, December 16th. AltaGas’s dividend payout ratio (DPR) 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.