AltaGas Ltd. (TSE:ALA) Stock Has Average Price Target of C$56.56 According to Analysts

Key Points

• Analysts unanimously rate AltaGas “Buy”: All eight analysts covering the stock recommend buying it, with an average 12-month price target of C$56.56.
• Several firms recently raised their targets, including ATB Cormark to C$63, Scotiabank to C$62, and RBC and BMO to C$59, while maintaining outperform ratings.
• 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 2.5% annualized yield.

AltaGas Ltd. (TSE:ALA - Get Free Report) has received a consensus rating of "Buy" from the eight analysts that are covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$56.56.

A number of research analysts have issued reports on ALA shares. Royal Bank Of Canada raised their price target on shares of AltaGas from C$55.00 to C$59.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Scotiabank boosted their price objective on shares of AltaGas from C$57.00 to C$62.00 and gave the company a "sector outperform" rating in a report on Tuesday, July 21st. BMO Capital Markets raised their target price on AltaGas from C$54.00 to C$59.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Finally, ATB Cormark Capital Markets lifted their price target on AltaGas from C$60.00 to C$63.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st.

AltaGas Price Performance

Shares of TSE ALA opened at C$53.63 on Tuesday. The company has a debt-to-equity ratio of 112.99, a quick ratio of 0.43 and a current ratio of 0.86. The company has a market cap of C$16.73 billion, a PE ratio of 27.09, a P/E/G ratio of -4.97 and a beta of 0.32. The business has a 50-day simple moving average of C$53.32 and a two-hundred day simple moving average of C$52.57. AltaGas has a fifty-two week low of C$39.45 and a fifty-two week high of C$57.52.

AltaGas (TSE:ALA - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported C$0.31 earnings per share (EPS) 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%. As a group, equities analysts expect that AltaGas will post 2.3006093 EPS for the current fiscal year.

AltaGas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th were paid a $0.3340 dividend. This represents a $1.34 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Wednesday, September 16th. AltaGas's dividend payout ratio (DPR) is presently 65.56%.

AltaGas Company Profile

AltaGas is a leading North American infrastructure company that connects customers and markets to affordable and reliable sources of energy. The Company operates a diversified, lower-risk, high-growth Utilities and Midstream business that is focused on delivering resilient and durable value for its stakeholders.

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