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

Key Points

• Analysts unanimously rate AltaGas “Buy”: All eight covering firms issued buy ratings, with an average 12-month price target of C$56.56.
• Several brokerages recently raised their targets, including ATB Cormark to C$63, Scotiabank to C$62, and National Bank Financial to C$60.
• AltaGas reported quarterly EPS of C$0.31 on C$3.80 billion in revenue and pays a quarterly dividend of C$0.334, equivalent to a 2.6% annualized yield.

AltaGas Ltd. (TSE:ALA - Get Free Report) has been given a consensus recommendation of "Buy" by the eight ratings firms that are currently covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have covered the stock in the last year is C$56.56.

ALA has been the subject of a number of research analyst reports. Royal Bank Of Canada increased their target price on shares of AltaGas from C$55.00 to C$59.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. National Bank Financial boosted their price objective on shares of AltaGas from C$52.00 to C$60.00 and gave the stock an "outperform" rating in a research note on Monday, June 1st. ATB Cormark Capital Markets boosted their price objective on shares of AltaGas from C$60.00 to C$63.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Scotiabank increased 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, July 21st. Finally, BMO Capital Markets raised their target price on shares of AltaGas from C$54.00 to C$59.00 and gave the company an "outperform" rating in a research note on Friday, July 31st.

AltaGas Price Performance

ALA stock opened at C$52.25 on Friday. The company has a market cap of C$16.30 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of -4.97 and a beta of 0.28. The company has a current ratio of 0.86, a quick ratio of 0.43 and a debt-to-equity ratio of 112.99. The stock has a 50-day moving average price of C$53.97 and a two-hundred day moving average price of C$51.86. AltaGas has a 12-month low of C$39.45 and a 12-month high of C$57.52.

AltaGas (TSE:ALA - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported C$0.31 EPS for the quarter. The company had revenue of C$3.80 billion for the quarter. AltaGas had a return on equity of 7.00% and a net margin of 4.59%. As a group, research analysts predict that AltaGas will post 2.3006093 EPS for the current year.

AltaGas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a $0.334 dividend. This represents a $1.34 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, June 16th. AltaGas's dividend payout ratio is currently 65.56%.

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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