FirstEnergy Capital Increases Altagas Price Target to C$54.00 (ALA)
Investment analysts at FirstEnergy Capital lifted their price objective on shares of Altagas (TSE:ALA) from C$51.00 to C$54.00 in a note issued to investors on Thursday. The firm currently has a “market perform” rating on the stock. FirstEnergy Capital’s price target would suggest a potential upside of 4.81% from the company’s current price.
Altagas (TSE:ALA) traded up 0.19% during mid-day trading on Thursday, hitting $51.62. The stock had a trading volume of 417,601 shares. Altagas has a 52-week low of $34.80 and a 52-week high of $53.06. The stock has a 50-day moving average of $49.77 and a 200-day moving average of $47.3. The company has a market cap of $6.381 billion and a P/E ratio of 37.88.
Altagas (TSE:ALA) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.22 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.22. Analysts expect that Altagas will post $1.56 EPS for the current fiscal year.
The company also recently announced a Monthly dividend, which is scheduled for Monday, September 15th. Investors of record on Monday, September 15th will be paid a dividend of $0.1475 per share. This represents a dividend yield of 3.59%. The ex-dividend date is Thursday, August 21st.
A number of other analysts have also recently weighed in on ALA. Analysts at Scotiabank raised their price target on shares of Altagas from C$47.00 to C$49.00 in a research note on Friday, August 1st. They now have a “sector perform” rating on the stock. Separately, analysts at TD Securities raised their price target on shares of Altagas from C$53.00 to C$55.00 in a research note on Friday, August 1st. They now have a “buy” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of Altagas from C$50.00 to C$53.00 in a research note on Friday, August 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Altagas currently has an average rating of “Buy” and an average target price of C$52.57.
AltaGas Ltd. Is a Canada-based diversified energy infrastructure business with a focus on natural gas, power and regulated utilities.
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