Altagas Ltd (ALA) Receives Average Rating of “Buy” from Analysts
Shares of Altagas Ltd (TSE:ALA) have been assigned a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$35.11.
Several equities analysts recently commented on the company. Canaccord Genuity reduced their price target on Altagas from C$33.00 to C$31.00 and set a “hold” rating on the stock in a research report on Tuesday, July 25th. Royal Bank Of Canada reduced their price target on Altagas from C$35.00 to C$33.00 and set a “sector perform” rating on the stock in a research report on Friday, July 28th. Finally, BMO Capital Markets set a C$32.00 price target on Altagas and gave the stock a “market perform” rating in a research report on Friday, July 28th.
Altagas (TSE ALA) traded down 0.25% during mid-day trading on Friday, hitting $27.58. 262,169 shares of the company were exchanged. The stock has a market cap of $4.73 billion and a price-to-earnings ratio of 42.76. The firm has a 50 day moving average price of $28.15 and a 200 day moving average price of $29.95. Altagas has a 12 month low of $26.87 and a 12 month high of $35.55.
Altagas (TSE:ALA) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. The firm had revenue of $539 million for the quarter, compared to analyst estimates of $633.11 million. Altagas had a negative return on equity of 0.93% and a net margin of 1.84%. Analysts anticipate that Altagas will post $0.95 EPS for the current fiscal year.
The firm also recently disclosed a monthly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be issued a dividend of $0.175 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $2.10 annualized dividend and a yield of 7.61%.
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Altagas Company Profile
AltaGas Ltd. operates as a diversified energy infrastructure company in North America. It operates through three segments: Gas, Power, and Utilities. The Gas segment engages in natural gas gathering and processing; natural gas liquids (NGL) extraction and separation, transmission, and storage; and natural gas and NGL marketing activities, as well as buying and selling natural gas.
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