Altagas (TSE:ALA) Price Target Cut to C$17.00 by Analysts at National Bank Financial

Altagas (TSE:ALA) had its target price lowered by National Bank Financial from C$26.00 to C$17.00 in a research note issued to investors on Monday morning, BayStreet.CA reports. National Bank Financial currently has an outperform rating on the stock. National Bank Financial also issued estimates for Altagas’ FY2021 earnings at $1.27 EPS.

Several other research analysts also recently issued reports on the stock. Canaccord Genuity lowered their price objective on shares of Altagas from C$23.00 to C$16.00 in a research report on Friday, March 20th. Raymond James reissued a market perform rating and set a C$21.00 price objective on shares of Altagas in a research report on Tuesday, March 3rd. CIBC lowered their price objective on shares of Altagas from C$23.00 to C$19.00 in a research report on Wednesday, March 18th. TD Securities raised their price objective on shares of Altagas from C$23.00 to C$24.00 in a research report on Monday, March 2nd. Finally, Scotiabank raised their price objective on shares of Altagas from C$21.00 to C$22.00 in a research report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of C$20.90.

Shares of Altagas stock opened at C$12.57 on Monday. Altagas has a 1 year low of C$8.71 and a 1 year high of C$22.74. The company has a debt-to-equity ratio of 101.66, a quick ratio of 0.43 and a current ratio of 0.70. The company has a market capitalization of $2.58 billion and a P/E ratio of 4.54. The company’s fifty day moving average is C$18.53 and its two-hundred day moving average is C$19.36.

Altagas (TSE:ALA) last issued its quarterly earnings data on Friday, February 28th. The company reported C$0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.55 by C$0.12. The business had revenue of C$1.53 billion for the quarter, compared to analysts’ expectations of C$1.77 billion. As a group, equities analysts expect that Altagas will post 1.3799999 earnings per share for the current year.

The company also recently announced a monthly dividend, which was paid on Monday, March 16th. Stockholders of record on Tuesday, February 25th were issued a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 7.64%. The ex-dividend date was Monday, February 24th. Altagas’s payout ratio is 34.66%.

About Altagas

AltaGas Ltd. operates as a diversified energy infrastructure company in North America. The company operates through three segments: Utilities, Midstream, and Power. The Utilities segment owns and operates regulated natural gas distribution utilities in Michigan, Alaska, the District of Columbia, Maryland, and Virginia; and 2 regulated natural gas storage utilities in the United States serving approximately 1.6 million customers.

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Analyst Recommendations for Altagas (TSE:ALA)

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