AltaGas Ltd. (TSE:ALA) Stock Has Consensus Target Price of C$56.56

AltaGas Ltd. (TSE:ALA) has earned an average recommendation of “Buy” from the seven brokerages that are covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have covered the stock in the last year is C$56.56.

ALA has been the topic of several analyst reports. BMO Capital Markets boosted their price target on shares of AltaGas from C$54.00 to C$59.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Royal Bank Of Canada raised 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. ATB Cormark Capital Markets raised their price objective on AltaGas from C$60.00 to C$63.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Finally, Scotiabank lifted their target price on AltaGas from C$57.00 to C$62.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 21st.

AltaGas Stock Performance

Shares of ALA stock opened at C$55.44 on Tuesday. AltaGas has a 12 month low of C$39.45 and a 12 month high of C$57.52. The company’s fifty day simple moving average is C$53.25 and its 200-day simple moving average is C$52.72. The firm has a market cap of C$17.30 billion, a PE ratio of 28.00, a P/E/G ratio of -4.97 and a beta of 0.32. 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 (TSE:ALA) last released its earnings results on Thursday, July 30th. The company reported C$0.31 earnings per share for the quarter. AltaGas had a net margin of 4.59% and a return on equity of 7.00%. The business had revenue of C$3.80 billion during the quarter. Equities research analysts expect that AltaGas will post 2.30 EPS for the current fiscal year.

AltaGas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th were given a dividend of $0.3340 per share. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $1.34 annualized dividend and a yield of 2.4%. AltaGas’s dividend payout ratio is 65.56%.

About AltaGas

AltaGas is a leading North American infrastructure company that connects customers and markets to affordable and reliable sources of energy. The Company operates a diversified, lower-risk, high-growth Utilities and Midstream business that is focused on delivering resilient and durable value for its stakeholders.