AltaGas (TSE:ALA) Price Target Raised to C$50.00

AltaGas (TSE:ALA) had its price target lifted by CIBC from C$47.00 to C$50.00 in a report published on Wednesday,BayStreet.CA reports.

ALA has been the subject of several other research reports. Scotiabank lifted their price objective on AltaGas from C$48.00 to C$50.00 in a research note on Tuesday. Royal Bank Of Canada raised their target price on shares of AltaGas from C$44.00 to C$48.00 in a report on Friday, October 31st. JPMorgan Chase & Co. lifted their price target on shares of AltaGas from C$45.00 to C$47.00 in a research note on Wednesday, December 3rd. Jefferies Financial Group boosted their price target 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. Finally, National Bankshares increased their price objective on shares of AltaGas from C$46.00 to C$50.00 and gave the company an “outperform” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$47.44.

AltaGas Stock Down 1.0%

AltaGas stock opened at C$41.08 on Wednesday. The firm has a market capitalization of C$12.78 billion, a P/E ratio of 16.50, a P/E/G ratio of -4.97 and a beta of 0.35. 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 twelve month low of C$32.10 and a twelve month high of C$44.37. The stock’s fifty day simple moving average is C$42.27 and its 200-day simple moving average is C$41.19.

AltaGas (TSE:ALA) last released its earnings results on Thursday, October 30th. The company reported C($0.08) earnings per share (EPS) for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%. The company had revenue of C$2.60 billion during the quarter. As a group, equities analysts expect that AltaGas will post 2.3006093 earnings per share for the current fiscal year.

AltaGas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st will be issued a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, December 16th. AltaGas’s dividend 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.