AltaGas Ltd. (TSE:ALA) Receives Average Recommendation of "Buy" from Analysts

Key Points

• AltaGas Ltd. has a consensus analyst rating of "Buy", with all seven covering firms assigning buy ratings. The average 12-month target price is C$54.88.
• Several analysts recently raised their price targets, including JPMorgan, National Bank Financial, RBC, ATB Cormark, and Scotiabank, with targets now ranging up to C$62.00.
• The company recently reported C$1.33 EPS on C$3.97 billion in revenue and paid a quarterly dividend of C$0.334, equal to an annualized yield of about 2.4%.

Shares of AltaGas Ltd. (TSE:ALA - Get Free Report) have earned a consensus rating of "Buy" from the seven ratings firms that are currently covering the company, MarketBeat reports. Seven analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have issued ratings on the stock in the last year is C$54.88.

A number of analysts have recently commented on ALA shares. JPMorgan Chase & Co. boosted their price objective on AltaGas from C$49.00 to C$52.00 in a research report on Tuesday, April 14th. National Bank Financial increased their target price on AltaGas from C$52.00 to C$60.00 and gave the company an "outperform" rating in a research report on Monday, June 1st. Royal Bank Of Canada lifted their price target on shares of AltaGas from C$50.00 to C$55.00 and gave the company an "outperform" rating in a research note on Friday, May 1st. ATB Cormark Capital Markets boosted their price target on shares of AltaGas from C$54.00 to C$56.00 and gave the stock an "outperform" rating in a report on Friday, May 1st. Finally, Scotiabank upped their price objective on shares of AltaGas from C$57.00 to C$62.00 and gave the stock a "sector outperform" rating in a research report on Tuesday.

AltaGas Price Performance

TSE:ALA opened at C$56.22 on Thursday. AltaGas has a 52 week low of C$39.45 and a 52 week high of C$56.74. The company has a quick ratio of 0.43, a current ratio of 0.88 and a debt-to-equity ratio of 115.95. The stock has a market capitalization of C$17.52 billion, a PE ratio of 34.28, a price-to-earnings-growth ratio of -4.97 and a beta of 0.35. The stock's 50-day moving average price is C$54.10 and its 200-day moving average price is C$48.89.

AltaGas (TSE:ALA - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported C$1.33 earnings per share for the quarter. The company had revenue of C$3.97 billion during the quarter. AltaGas had a return on equity of 5.92% and a net margin of 4.02%. As a group, equities analysts expect that AltaGas will post 2.3006093 EPS for the current fiscal year.

AltaGas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a $0.334 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $1.34 annualized dividend and a dividend yield of 2.4%. AltaGas's dividend payout ratio (DPR) is 77.99%.

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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