AltaGas (TSE:ALA) Raised to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of AltaGas (TSE:ALA) from a neutral rating to an overweight rating in a research report report published on Tuesday morning, PriceTargets.com reports. They currently have C$30.00 target price on the stock.

ALA has been the subject of several other research reports. National Bankshares upped their price target on AltaGas from C$26.00 to C$29.00 and gave the stock an outperform rating in a report on Friday, July 30th. National Bank Financial increased their price objective on AltaGas to C$29.00 and gave the stock an outperform rating in a report on Friday, July 30th. Raymond James reaffirmed an outperform rating on shares of AltaGas in a report on Friday, October 29th. BMO Capital Markets reiterated an outperform rating on shares of AltaGas in a research report on Tuesday, September 21st. Finally, Canaccord Genuity raised their price target on AltaGas from C$30.00 to C$32.00 and gave the stock a hold rating in a research report on Thursday, August 19th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Buy and an average price target of C$29.11.

TSE:ALA opened at C$25.33 on Tuesday. The stock has a market cap of C$7.10 billion and a P/E ratio of 16.33. The company has a current ratio of 1.14, a quick ratio of 0.65 and a debt-to-equity ratio of 105.33. The stock’s 50-day moving average is C$25.45 and its 200-day moving average is C$25.46. AltaGas has a 1-year low of C$18.23 and a 1-year high of C$26.94.

AltaGas (TSE:ALA) last posted its quarterly earnings data on Thursday, October 28th. The company reported C$0.02 EPS for the quarter, topping the Zacks’ consensus estimate of C($0.05) by C$0.07. The company had revenue of C$2.34 billion during the quarter, compared to analyst estimates of C$831.99 million. As a group, equities analysts forecast that AltaGas will post 1.8200002 EPS for the current year.

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, December 15th. Investors of record on Wednesday, December 15th will be paid a $0.0833 dividend. The ex-dividend date is Wednesday, November 24th. This represents a $1.00 annualized dividend and a yield of 3.95%. AltaGas’s dividend payout ratio (DPR) is currently 64.02%.

AltaGas Company Profile

AltaGas Ltd. operates as a diversified energy infrastructure company in North America. The company operates through two segments, Utilities and Midstream. The Utilities segment owns and operates regulated natural gas distribution utilities in Michigan, Alaska, the District of Columbia, Maryland, and Virginia; and two regulated natural gas storage utilities in the United States serving approximately 1.7 million customers.

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Analyst Recommendations for AltaGas (TSE:ALA)

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