AltaGas (TSE:ALA) Price Target Raised to C$48.00

AltaGas (TSE:ALA) had its price objective increased by TD Securities from C$45.00 to C$48.00 in a research report sent to investors on Tuesday morning,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on ALA. National Bankshares raised their target price on AltaGas from C$41.00 to C$44.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Veritas raised AltaGas to a “strong sell” rating in a report on Friday, May 2nd. CIBC upped their target price on AltaGas from C$42.00 to C$43.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. BMO Capital Markets upped their target price on AltaGas from C$40.00 to C$43.00 in a report on Friday, May 2nd. Finally, Jefferies Financial Group upped their target price on AltaGas from C$40.00 to C$46.00 in a report on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$44.33.

AltaGas Trading Down 1.2%

Shares of ALA stock opened at C$40.80 on Tuesday. The stock has a 50-day simple moving average of C$39.23 and a 200 day simple moving average of C$37.88. AltaGas has a fifty-two week low of C$31.67 and a fifty-two week high of C$42.03. The stock has a market capitalization of C$12.15 billion, a P/E ratio of 23.65, a P/E/G ratio of -4.97 and a beta of 1.23. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26.

AltaGas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Tuesday, September 16th will be paid a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 3.1%. AltaGas’s dividend payout ratio is currently 68.98%.

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.