AltaGas (TSE:ALA) Price Target Raised to C$52.00

AltaGas (TSE:ALA) had its price objective raised by Scotiabank from C$50.00 to C$52.00 in a research report sent to investors on Monday morning,BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

A number of other research firms have also weighed in on ALA. Jefferies Financial Group raised their price target on shares of AltaGas from C$49.00 to C$53.00 in a report on Monday. Canadian Imperial Bank of Commerce upped their price objective on shares of AltaGas from C$47.00 to C$50.00 in a research report on Wednesday, December 17th. National Bank Financial raised their target price on AltaGas from C$46.00 to C$50.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. ATB Cormark Capital Markets lifted their target price on AltaGas from C$48.00 to C$49.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 23rd. Finally, JPMorgan Chase & Co. boosted their price target on AltaGas from C$45.00 to C$47.00 in a research note on Wednesday, December 3rd. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$49.89.

AltaGas Stock Up 0.2%

TSE ALA opened at C$47.32 on Monday. The company has a quick ratio of 0.44, a current ratio of 0.88 and a debt-to-equity ratio of 126.46. AltaGas has a fifty-two week low of C$35.33 and a fifty-two week high of C$48.32. The business has a 50 day moving average price of C$43.29 and a two-hundred day moving average price of C$42.54. The stock has a market cap of C$14.72 billion, a PE ratio of 19.00, a P/E/G ratio of -4.97 and a beta of 0.49.

AltaGas (TSE:ALA) last posted its quarterly earnings data on Friday, March 6th. The company reported C$0.77 earnings per share (EPS) for the quarter. AltaGas had a net margin of 6.15% and a return on equity of 8.78%. The company had revenue of C$3.29 billion for the quarter. As a group, sell-side analysts predict that AltaGas will post 2.3006093 EPS for the current fiscal year.

AltaGas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were issued a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Tuesday, December 16th. AltaGas’s payout ratio is 49.90%.

AltaGas Company Profile

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.