Altagas PT Raised to C$57.00 (ALA)
Equities researchers at CIBC increased their price target on shares of Altagas (TSE:ALA) from C$52.00 to C$57.00 in a research report issued on Friday. CIBC’s price target would indicate a potential upside of 10.55% from the stock’s current price.
Altagas (TSE:ALA) opened at 51.62 on Friday. Altagas has a one year low of $34.80 and a one year high of $53.06. The stock’s 50-day moving average is $49.8 and its 200-day moving average is $47.4. The company has a market cap of $6.381 billion and a P/E ratio of 37.91.
Altagas (TSE:ALA) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.22 earnings per share for the quarter, meeting the analysts’ 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 declared a Monthly dividend, which is scheduled for Monday, September 15th. Investors of record on Monday, September 15th will be given a dividend of $0.1475 per share. This represents a yield of 3.59%. The ex-dividend date of this dividend is Thursday, August 21st.
Other equities research analysts have also recently issued reports about the stock. Analysts at NBF initiated coverage on shares of Altagas in a research note on Friday. They set an “outperform” rating and a C$55.00 price target on the stock. Separately, 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. Finally, 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target 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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