AltaGas Ltd. (TSE:ALA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

AltaGas Ltd. (TSE:ALA) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is C$48.11.

Several analysts have issued reports on the stock. National Bankshares boosted their target price on shares of AltaGas from C$46.00 to C$50.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Royal Bank Of Canada upped their price target on AltaGas from C$44.00 to C$48.00 in a research report on Friday, October 31st. Scotiabank increased their price objective on AltaGas from C$48.00 to C$50.00 in a research note on Tuesday, December 16th. Jefferies Financial Group lifted their target price on AltaGas from C$47.00 to C$48.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, ATB Capital increased their price target on shares of AltaGas from C$48.00 to C$49.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 23rd.

AltaGas Price Performance

TSE ALA opened at C$41.99 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. AltaGas has a 1 year low of C$32.14 and a 1 year high of C$44.37. The company has a market cap of C$13.06 billion, a PE ratio of 16.86, a PEG ratio of -4.97 and a beta of 0.43. The stock’s 50-day moving average price is C$41.76 and its two-hundred day moving average price is C$41.76.

AltaGas (TSE:ALA) last announced its earnings results on Thursday, October 30th. The company reported C($0.08) EPS for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%.The firm had revenue of C$2.60 billion during the quarter. On average, analysts predict that AltaGas will post 2.3006093 EPS for the current year.

AltaGas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were given a $0.315 dividend. The ex-dividend date was Tuesday, December 16th. This represents a $1.26 dividend on an annualized basis and a yield of 3.0%. AltaGas’s dividend payout ratio is presently 49.90%.

AltaGas Company Profile

AltaGas Ltd owns and operates a diversified basket of energy infrastructure businesses. Business is conducted through four segments: Midstream, power, utilities and corporate. Utility business owns and operates rate-regulated natural gas distribution assets across North America. Midstream business subsequent to the sale of non-core midstream assets in Canada and also engaged in the natural gas liquid processing and extraction, transportation, and storage. Natural gas is sold and purchased for both commercial and industrial users.