Altagas Stock Rating Reaffirmed by National Bank Financial (ALA)
Altagas (TSE:ALA)‘s stock had its “outperform” rating restated by equities researchers at National Bank Financial in a research report issued on Friday. They currently have a C$55.00 price objective on the stock. National Bank Financial’s price target points to a potential upside of 6.67% from the company’s current price.
A number of other firms have also recently commented on ALA. Analysts at RBC Capital raised their price target on shares of Altagas from C$53.00 to C$55.00 in a research note on Friday. They now have a “sector perform” rating on the stock. Separately, analysts at CIBC raised their price target on shares of Altagas from C$52.00 to C$57.00 in a research note on Friday. They now have an “outperform” rating on the stock. Finally, 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. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of C$54.00.
Altagas (TSE:ALA) traded up 1.26% during mid-day trading on Friday, hitting $52.21. The stock had a trading volume of 274,561 shares. Altagas has a 52 week low of $34.80 and a 52 week 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 $6.454 billion and a price-to-earnings ratio of 37.91.
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. 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. Shareholders 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.
AltaGas Ltd. Is a Canada-based diversified energy infrastructure business with a focus on natural gas, power and regulated utilities.
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