AltaGas Ltd. (TSE:ALA) Stock Has Consensus Target Price of C$56.56

AltaGas Ltd. (TSE:ALA) has earned a consensus recommendation of “Buy” from the seven research firms that are covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have covered the stock in the last year is C$56.56.

Several research analysts have issued reports on the stock. Royal Bank Of Canada lifted their target price on shares of AltaGas from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. BMO Capital Markets increased their price target on shares of AltaGas from C$54.00 to C$59.00 and gave the company an “outperform” rating in a report on Friday, July 31st. ATB Cormark Capital Markets raised their price target on shares of AltaGas from C$60.00 to C$63.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, Scotiabank boosted their price objective on shares of AltaGas from C$57.00 to C$62.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 21st.

AltaGas Price Performance

Shares of TSE:ALA opened at C$55.05 on Tuesday. AltaGas has a 1-year low of C$39.45 and a 1-year high of C$57.52. The company has a debt-to-equity ratio of 112.99, a current ratio of 0.86 and a quick ratio of 0.43. The business has a fifty day moving average price of C$53.26 and a 200-day moving average price of C$52.70. The company has a market capitalization of C$17.18 billion, a PE ratio of 27.80, a PEG ratio of -4.97 and a beta of 0.32.

AltaGas (TSE:ALA) last posted its quarterly earnings results on Thursday, July 30th. The company reported C$0.31 earnings per share (EPS) for the quarter. AltaGas had a return on equity of 7.00% and a net margin of 4.59%.The firm had revenue of C$3.80 billion during the quarter. As a group, equities analysts expect that AltaGas will post 2.3006093 EPS for the current fiscal year.

AltaGas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were issued a $0.3340 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.4%. AltaGas’s dividend payout ratio (DPR) is presently 65.56%.

About AltaGas

AltaGas is a leading North American infrastructure company that connects customers and markets to affordable and reliable sources of energy. The Company operates a diversified, lower-risk, high-growth Utilities and Midstream business that is focused on delivering resilient and durable value for its stakeholders.