AltaGas (TSE:ALA) Price Target Raised to C$62.00

AltaGas (TSE:ALA) had its price objective boosted by Scotiabank from C$57.00 to C$62.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. Scotiabank currently has a sector outperform rating on the stock.

ALA has been the subject of several other reports. JPMorgan Chase & Co. increased their price target on AltaGas from C$49.00 to C$52.00 in a research report on Tuesday, April 14th. Royal Bank Of Canada boosted their price target on AltaGas from C$50.00 to C$55.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. National Bank Financial increased their price objective on AltaGas from C$52.00 to C$60.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Finally, ATB Cormark Capital Markets raised their target price on shares of AltaGas from C$54.00 to C$56.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, AltaGas has an average rating of “Buy” and a consensus price target of C$54.88.

AltaGas Trading Up 1.4%

Shares of TSE:ALA opened at C$56.98 on Tuesday. The company’s 50-day moving average price is C$54.19 and its two-hundred day moving average price is C$49.00. The company has a debt-to-equity ratio of 115.95, a current ratio of 0.88 and a quick ratio of 0.43. AltaGas has a one year low of C$39.45 and a one year high of C$57.20. The stock has a market capitalization of C$17.75 billion, a PE ratio of 34.74, a price-to-earnings-growth ratio of -4.97 and a beta of 0.35.

AltaGas (TSE:ALA) last announced its quarterly earnings data on Thursday, April 30th. The company reported C$1.33 earnings per share for the quarter. The company had revenue of C$3.97 billion during the quarter. AltaGas had a return on equity of 5.92% and a net margin of 4.02%. On average, equities analysts forecast that AltaGas will post 2.3006093 EPS for the current fiscal year.

AltaGas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a dividend of $0.334 per share. The ex-dividend date was Tuesday, June 16th. This represents a $1.34 dividend on an annualized basis and a yield of 2.3%. AltaGas’s dividend payout ratio (DPR) is presently 77.99%.

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.