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

AltaGas Ltd. (TSE:ALA) has earned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is C$48.11.

Several brokerages recently weighed in on ALA. ATB Capital raised their target price on AltaGas from C$48.00 to C$49.00 and gave the company an “outperform” rating in a research note on Tuesday, December 23rd. JPMorgan Chase & Co. raised their price objective on shares of AltaGas from C$45.00 to C$47.00 in a research report on Wednesday, December 3rd. CIBC lifted their price objective on shares of AltaGas from C$47.00 to C$50.00 in a research note on Wednesday, December 17th. Royal Bank Of Canada increased their target price on shares of AltaGas from C$44.00 to C$48.00 in a research note on Friday, October 31st. Finally, Jefferies Financial Group raised their target price on shares of AltaGas from C$47.00 to C$48.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th.

AltaGas Trading Up 1.1%

Shares of TSE:ALA opened at C$41.03 on Friday. The company has a 50 day moving average of C$42.09 and a 200-day moving average of C$41.51. The firm has a market cap of C$12.76 billion, a P/E ratio of 16.48, a P/E/G ratio of -4.97 and a beta of 0.43. AltaGas has a twelve month low of C$32.14 and a twelve month high of C$44.37. 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 (TSE:ALA) last announced its earnings results on Thursday, October 30th. The company reported C($0.08) EPS for the quarter. The firm had revenue of C$2.60 billion for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. As a group, analysts anticipate that AltaGas will post 2.3006093 earnings per share for the current fiscal year.

AltaGas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were given a dividend of $0.315 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.1%. AltaGas’s payout ratio is 49.90%.

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.