Altagas Coverage Initiated by Analysts at NBF (ALA)
Research analysts at NBF assumed coverage on shares of Altagas (TSE:ALA) in a report released on Friday. The firm set an “outperform” rating and a C$55.00 price target on the stock. NBF’s target price points to a potential upside of 6.67% from the stock’s previous close.
Shares of Altagas (TSE:ALA) opened at 51.63 on Friday. 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 $49.8 and a 200-day moving average of $47.4. The company has a market cap of $6.383 billion and a price-to-earnings ratio of 37.91.
Altagas (TSE:ALA) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.22 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.22. On average, analysts predict that Altagas will post $1.53 earnings per share 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 TD Securities raised their price target on shares of Altagas from C$55.00 to C$57.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, analysts at FirstEnergy Capital raised their price target on shares of Altagas from C$51.00 to C$54.00 in a research note on Thursday. They now have a “market perform” rating on the stock. Finally, 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. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Altagas currently has a consensus rating of “Buy” and a consensus target price of C$53.75.
AltaGas Ltd. Is a Canada-based diversified energy infrastructure business with a focus on natural gas, power and regulated utilities.
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