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

Shares of AltaGas Ltd. (TSE:ALA) have received an average rating of “Buy” from the seven research firms that are currently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is C$54.25.

A number of analysts recently weighed in on ALA shares. Scotiabank raised their target price on shares of AltaGas from C$54.00 to C$57.00 and gave the stock a “sector outperform” rating in a report on Friday, May 1st. Royal Bank Of Canada raised their target price on shares of AltaGas from C$50.00 to C$55.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. ATB Cormark Capital Markets raised their target price on shares of AltaGas from C$54.00 to C$56.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. TD Securities raised their target price on shares of AltaGas from C$48.00 to C$51.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of AltaGas from C$49.00 to C$52.00 in a report on Tuesday, April 14th.

AltaGas Price Performance

TSE ALA opened at C$54.31 on Friday. AltaGas has a 12 month low of C$38.14 and a 12 month high of C$56.74. The company has a debt-to-equity ratio of 115.95, a current ratio of 0.88 and a quick ratio of 0.44. The firm has a market capitalization of C$16.92 billion, a PE ratio of 33.12, a P/E/G ratio of -4.97 and a beta of 0.33. The company’s 50 day simple moving average is C$52.80 and its 200 day simple moving average is C$47.30.

AltaGas (TSE:ALA) last issued its earnings results on Thursday, April 30th. The company reported C$1.33 earnings per share for the quarter. The firm had revenue of C$3.97 billion during the quarter. AltaGas had a net margin of 4.02% and a return on equity of 5.92%. As a group, equities research analysts forecast that AltaGas will post 2.3006093 EPS for the current fiscal year.

AltaGas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.334 per share. This represents a $1.34 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, June 16th. AltaGas’s dividend payout ratio (DPR) is presently 77.99%.

About AltaGas

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.