Brokerages Set AltaGas Ltd. (TSE:ALA) PT at C$50.11

Shares of AltaGas Ltd. (TSE:ALA) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is C$50.67.

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group lifted their target price on shares of AltaGas from C$49.00 to C$53.00 in a research note on Monday, March 9th. TD Securities increased their price objective on AltaGas from C$48.00 to C$51.00 and gave the stock a “buy” rating in a report on Monday, March 9th. ATB Cormark Capital Markets increased their price objective on AltaGas from C$49.00 to C$52.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. Royal Bank Of Canada upped their target price on AltaGas from C$48.00 to C$50.00 and gave the stock an “outperform” rating in a research report on Monday, March 9th. Finally, National Bank Financial upped their target price on AltaGas from C$50.00 to C$51.00 and gave the stock an “outperform” rating in a research report on Monday, March 9th.

AltaGas Stock Up 0.7%

Shares of AltaGas stock opened at C$49.24 on Tuesday. The stock has a 50-day moving average price of C$47.24 and a 200 day moving average price of C$43.85. The company has a market cap of C$15.32 billion, a P/E ratio of 19.85, a P/E/G ratio of -4.97 and a beta of 0.34. The company has a current ratio of 0.82, a quick ratio of 0.44 and a debt-to-equity ratio of 118.25. AltaGas has a 1 year low of C$37.08 and a 1 year high of C$50.27.

AltaGas (TSE:ALA) last announced its quarterly earnings data on Friday, March 6th. The company reported C$0.77 earnings per share (EPS) for the quarter. AltaGas had a return on equity of 8.74% and a net margin of 6.14%.The firm had revenue of C$3.29 billion during the quarter. As a group, analysts expect that AltaGas will post 2.3006093 EPS for the current fiscal year.

AltaGas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were paid a $0.334 dividend. This represents a $1.34 annualized dividend and a dividend yield of 2.7%. 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 dividend payout ratio (DPR) is presently 50.81%.

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.