AltaGas Ltd. (TSE:ALA) Receives C$48.11 Average Target Price from Brokerages

Shares of AltaGas Ltd. (TSE:ALA) have been assigned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and seven have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$48.11.

ALA has been the topic of several recent analyst reports. CIBC boosted their target price on shares of AltaGas from C$47.00 to C$50.00 in a research note on Wednesday, December 17th. Jefferies Financial Group upped their price target on AltaGas from C$47.00 to C$48.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. ATB Capital increased their price objective on AltaGas from C$48.00 to C$49.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 23rd. Royal Bank Of Canada raised their price objective on AltaGas from C$44.00 to C$48.00 in a research report on Friday, October 31st. Finally, JPMorgan Chase & Co. upped their target price on AltaGas from C$45.00 to C$47.00 in a report on Wednesday, December 3rd.

AltaGas Price Performance

TSE ALA opened at C$41.07 on Thursday. AltaGas has a 1 year low of C$32.14 and a 1 year high of C$44.37. The stock’s 50-day moving average price is C$41.66 and its two-hundred day moving average price is C$41.78. The company has a market cap of C$12.78 billion, a PE ratio of 16.49, a PEG ratio of -4.97 and a beta of 0.43. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26.

AltaGas (TSE:ALA) last released its earnings results on Thursday, October 30th. The company reported C($0.08) earnings per share for the quarter. The firm had revenue of C$2.60 billion during the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. On average, analysts predict that AltaGas will post 2.3006093 EPS for the current year.

AltaGas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were given a $0.315 dividend. The ex-dividend date was Tuesday, December 16th. This represents a $1.26 dividend on an annualized basis and a yield of 3.1%. AltaGas’s dividend payout ratio is presently 49.90%.

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.