Altagas (TSE:ALA) Earns “Neutral” Rating from Credit Suisse Group

Credit Suisse Group reissued their neutral rating on shares of Altagas (TSE:ALA) in a research report released on Wednesday, Stock Target Advisor reports. The brokerage currently has a C$18.00 price target on the stock.

Several other equities research analysts have also recently weighed in on ALA. Beacon Securities reiterated a buy rating on shares of Altagas in a report on Friday, July 31st. Raymond James set a C$22.00 target price on Altagas and gave the stock an outperform rating in a report on Tuesday, August 4th. Royal Bank of Canada upgraded Altagas from a sector perform rating to an outperform rating and upped their target price for the stock from C$19.00 to C$21.00 in a report on Wednesday, June 17th. CIBC upped their target price on Altagas from C$19.00 to C$20.00 in a report on Thursday, June 18th. Finally, Canaccord Genuity upped their target price on Altagas from C$20.00 to C$21.00 in a report on Friday, August 21st. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of C$20.36.

Shares of Altagas stock opened at C$16.45 on Wednesday. The stock’s fifty day moving average is C$16.61 and its two-hundred day moving average is C$16.00. The company has a market capitalization of $4.60 billion and a PE ratio of 11.44. The company has a quick ratio of 0.48, a current ratio of 0.90 and a debt-to-equity ratio of 88.74. Altagas has a 52 week low of C$8.71 and a 52 week high of C$22.74.

Altagas (TSE:ALA) last announced its quarterly earnings data on Thursday, July 30th. The company reported C$0.06 EPS for the quarter. The business had revenue of C$1.06 billion during the quarter, compared to the consensus estimate of C$989.15 million. As a group, research analysts anticipate that Altagas will post 1.0274954 earnings per share for the current year.

The firm also recently announced a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, October 26th will be given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 5.84%. The ex-dividend date of this dividend is Friday, October 23rd. Altagas’s dividend payout ratio is currently 66.76%.

Altagas Company Profile

AltaGas Ltd. operates as a diversified energy infrastructure company in North America. The company operates through three segments: Utilities, Midstream, and Power. The Utilities segment owns and operates regulated natural gas distribution utilities in Michigan, Alaska, the District of Columbia, Maryland, and Virginia; and 2 regulated natural gas storage utilities in the United States serving approximately 1.6 million customers.

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Analyst Recommendations for Altagas (TSE:ALA)

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