Altagas (TSE:ALA) Given a C$18.00 Price Target at CSFB

CSFB set a C$18.00 price objective on Altagas (TSE:ALA) in a research note published on Wednesday, BayStreet.CA reports. The brokerage currently has a neutral rating on the stock.

Other equities research analysts have also issued research reports about the stock. National Bank Financial lifted their price objective on shares of Altagas from C$19.00 to C$20.00 and gave the company an outperform rating in a research note on Friday, July 31st. CIBC lifted their target price on shares of Altagas from C$19.00 to C$20.00 in a report on Thursday, June 18th. Credit Suisse Group lifted their target price on shares of Altagas from C$17.00 to C$18.00 in a report on Wednesday, July 29th. Canaccord Genuity lifted their target price on shares of Altagas from C$20.00 to C$21.00 in a report on Friday, August 21st. Finally, Raymond James set a C$22.00 target price on shares of Altagas and gave the stock an outperform rating in a report on Tuesday, August 4th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of C$20.36.

ALA stock opened at C$16.45 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.48 and a debt-to-equity ratio of 88.74. Altagas has a 1 year low of C$8.71 and a 1 year high of C$22.74. The company has a fifty day simple moving average of C$16.61 and a 200 day simple moving average of C$16.00. The firm has a market cap of $4.60 billion and a PE ratio of 11.44.

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

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