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

AltaGas Ltd. (TSE:ALA) has been given an average recommendation of “Buy” by the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$56.56.

Several equities research analysts have commented on the stock. ATB Cormark Capital Markets boosted their price target on shares of AltaGas from C$60.00 to C$63.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. BMO Capital Markets upped their price target on shares of AltaGas from C$54.00 to C$59.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Scotiabank raised their price objective on shares of 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. Finally, Royal Bank Of Canada raised their price objective on shares of AltaGas from C$55.00 to C$59.00 and gave the company an “outperform” rating in a research report on Friday, July 31st.

AltaGas Price Performance

ALA opened at C$55.44 on Tuesday. AltaGas has a one year low of C$39.45 and a one year high of C$57.52. The company has a debt-to-equity ratio of 112.99, a quick ratio of 0.43 and a current ratio of 0.86. The stock’s fifty day moving average is C$53.24 and its 200-day moving average is C$52.81. The company has a market capitalization 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.

AltaGas (TSE:ALA) last announced its quarterly earnings data on Thursday, July 30th. The company reported C$0.31 earnings per share for the quarter. AltaGas had a return on equity of 7.00% and a net margin of 4.59%. The business had revenue of C$3.80 billion during the quarter. On average, equities analysts predict that AltaGas will post 2.30 EPS for the current fiscal year.

AltaGas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th were issued a $0.3340 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Wednesday, September 16th. AltaGas’s payout ratio is presently 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.