AltaGas Ltd. (TSE:ALA) Receives Consensus Rating of “Buy” from Analysts

AltaGas Ltd. (TSE:ALA) has received an average recommendation of “Buy” from the seven ratings firms that are covering the company, Marketbeat reports. Seven research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is C$53.25.

Several research analysts recently commented on the stock. Scotiabank raised their price objective on shares of AltaGas from C$54.00 to C$57.00 and gave the stock a “sector outperform” rating in a report on Friday, May 1st. TD Securities raised their price objective on shares of AltaGas from C$48.00 to C$51.00 and gave the stock a “buy” rating in a report on Monday, March 9th. JPMorgan Chase & Co. raised their price objective on shares of AltaGas from C$49.00 to C$52.00 in a report on Tuesday, April 14th. National Bank Financial raised their price objective on shares of AltaGas from C$51.00 to C$52.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Finally, Royal Bank Of Canada raised their price objective on shares of AltaGas from C$50.00 to C$55.00 and gave the stock an “outperform” rating in a report on Friday, May 1st.

AltaGas Stock Up 0.7%

ALA opened at C$53.17 on Friday. The company has a 50 day moving average of C$49.15 and a 200 day moving average of C$44.82. The company has a market cap of C$16.57 billion, a PE ratio of 32.42, a price-to-earnings-growth ratio of -4.97 and a beta of 0.38. AltaGas has a 12 month low of C$37.08 and a 12 month high of C$53.41. The company has a current ratio of 0.88, a quick ratio of 0.44 and a debt-to-equity ratio of 115.95.

AltaGas (TSE:ALA) last released its quarterly earnings data on Thursday, April 30th. The company reported C$1.33 EPS for the quarter. The company had revenue of C$3.97 billion during the quarter. AltaGas had a net margin of 4.02% and a return on equity of 5.92%. On average, sell-side analysts expect that AltaGas will post 2.3006093 EPS for the current year.

AltaGas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were issued a $0.334 dividend. This represents a $1.34 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Monday, March 16th. This is a positive change from AltaGas’s previous quarterly dividend of $0.32. AltaGas’s 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.