AltaGas (TSE:ALA) Price Target Raised to C$46.00 at Scotiabank

Key Points

• Scotiabank has increased the price target for AltaGas from C$45.00 to C$46.00, maintaining an "outperform" rating, which indicates a potential upside of 12.28% from its current price.
• Several other analysts have also raised their price targets, with JPMorgan Chase lifting theirs to C$41.00 and TD Securities to C$48.00, while National Bankshares and Royal Bank Of Canada now have targets of C$44.00 and C$43.00, respectively.
• AltaGas shares have dipped by 0.8% to C$40.97, but analysts rate the stock with an average of "Moderate Buy" and an average price target of C$44.33.

AltaGas (TSE:ALA - Free Report) had its target price boosted by Scotiabank from C$45.00 to C$46.00 in a research report report published on Tuesday morning,BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

Other research analysts also recently issued reports about the stock. Jefferies Financial Group increased their target price on shares of AltaGas from C$40.00 to C$46.00 in a research report on Wednesday, July 23rd. TD Securities raised their target price on AltaGas from C$45.00 to C$48.00 and gave the stock a "buy" rating in a research report on Tuesday. BMO Capital Markets upped their price target on AltaGas from C$40.00 to C$43.00 in a research report on Friday, May 2nd. Royal Bank Of Canada lifted their price objective on AltaGas from C$40.00 to C$43.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, Veritas raised shares of AltaGas to a "strong sell" rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, AltaGas has an average rating of "Moderate Buy" and a consensus target price of C$44.33.

AltaGas Stock Performance

AltaGas stock traded down C$0.04 during mid-day trading on Tuesday, reaching C$41.12. 152,329 shares of the company's stock were exchanged, compared to its average volume of 802,758. The firm has a market capitalization of C$12.24 billion, a PE ratio of 23.83, a P/E/G ratio of -4.97 and a beta of 1.23. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26. The business's fifty day simple moving average is C$39.30 and its 200 day simple moving average is C$37.90. AltaGas has a one year low of C$32.02 and a one year high of C$42.03.

AltaGas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.1%. AltaGas's dividend payout ratio (DPR) is currently 68.98%.

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.