AltaGas Ltd. (TSE:ALA) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Shares of AltaGas have a consensus rating of Moderate Buy from eight analysts (seven buys, one sell) with an average 12‑month target of C$50.11, and several brokers (Jefferies, CIBC, TD, RBC, Scotiabank) recently raised price targets into the C$50–54 range.
• AltaGas reported quarterly EPS of C$0.77 on C$3.29 billion of revenue, trades at a PE of about 19.6 with a market cap near C$15.1 billion, and is trading close to its 52‑week high (C$50.27; opened C$48.54).
• The company increased its quarterly dividend to C$0.334 (annualized C$1.34), implying a yield of roughly 2.8% and a payout ratio of about 50.8%.

Shares of AltaGas Ltd. (TSE:ALA - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eight research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is C$50.11.

A number of research firms recently issued reports on ALA. Jefferies Financial Group raised their price objective on shares of AltaGas from C$49.00 to C$53.00 in a report on Monday, March 9th. Canadian Imperial Bank of Commerce raised their price objective on shares of AltaGas from C$47.00 to C$50.00 in a report on Wednesday, December 17th. TD Securities raised their price objective on shares of AltaGas from C$48.00 to C$51.00 and gave the stock a "buy" rating in a report on Monday, March 9th. Royal Bank Of Canada raised their price objective on shares of AltaGas from C$48.00 to C$50.00 and gave the stock an "outperform" rating in a report on Monday, March 9th. Finally, Scotiabank raised their price objective on shares of AltaGas from C$52.00 to C$54.00 and gave the stock an "outperform" rating in a report on Monday, April 6th.

AltaGas Stock Performance

TSE ALA opened at C$48.54 on Tuesday. AltaGas has a 52-week low of C$37.08 and a 52-week high of C$50.27. The company has a 50-day simple moving average of C$46.60 and a 200 day simple moving average of C$43.64. The company has a debt-to-equity ratio of 118.25, a quick ratio of 0.44 and a current ratio of 0.82. The company has a market capitalization of C$15.10 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of -4.97 and a beta of 0.34.

AltaGas (TSE:ALA - Get Free Report) last posted its quarterly earnings data on Friday, March 6th. The company reported C$0.77 earnings per share (EPS) for the quarter. AltaGas had a net margin of 6.14% and a return on equity of 8.74%. The business had revenue of C$3.29 billion during the quarter. On average, research analysts predict that AltaGas will post 2.3006093 EPS for the current year.

AltaGas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were given a dividend of $0.334 per share. This is a boost from AltaGas's previous quarterly dividend of $0.32. This represents a $1.34 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Monday, March 16th. AltaGas's dividend payout ratio (DPR) is 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.

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