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

Key Points

• AltaGas has a consensus “Buy” rating from eight analysts, all of whom recommend buying the stock. The average 12-month price target is C$56.56, with several firms recently raising their targets to between C$59 and C$63.
• AltaGas reported quarterly earnings of C$0.31 per share on revenue of C$3.80 billion. Analysts expect the company to generate approximately C$2.30 in EPS for the current fiscal year.
• The company pays a quarterly dividend of C$0.334, equivalent to C$1.34 annually and a 2.5% yield; its dividend payout ratio is 65.56%.

AltaGas Ltd. (TSE:ALA - Get Free Report) has been assigned an average recommendation of "Buy" from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued a report on the stock in the last year is C$56.56.

Several equities analysts have commented on ALA shares. Scotiabank boosted their price target on shares of AltaGas from C$57.00 to C$62.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, July 21st. BMO Capital Markets increased their price objective on AltaGas from C$54.00 to C$59.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. National Bank Financial increased their price objective on AltaGas from C$52.00 to C$60.00 and gave the company an "outperform" rating in a research note on Monday, June 1st. Royal Bank Of Canada lifted their target price on AltaGas from C$55.00 to C$59.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Finally, ATB Cormark Capital Markets boosted their target price on AltaGas from C$60.00 to C$63.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st.

AltaGas Stock Performance

TSE ALA opened at C$53.65 on Monday. The firm has a 50 day simple moving average of C$54.38 and a 200-day simple moving average of C$50.54. The company has a debt-to-equity ratio of 112.99, a quick ratio of 0.43 and a current ratio of 0.86. AltaGas has a one year low of C$39.45 and a one year high of C$57.52. The firm has a market cap of C$16.74 billion, a price-to-earnings ratio of 27.10, a PEG ratio of -4.97 and a beta of 0.33.

AltaGas (TSE:ALA - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported C$0.31 earnings per share for the quarter. The firm had revenue of C$3.80 billion for the quarter. AltaGas had a net margin of 4.59% and a return on equity of 7.00%. Equities research analysts anticipate that AltaGas will post 2.3006093 EPS for the current fiscal year.

AltaGas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a $0.334 dividend. This represents a $1.34 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Tuesday, June 16th. AltaGas's dividend payout ratio (DPR) is presently 65.56%.

About AltaGas

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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