AltaGas Ltd. (TSE:ALA) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of AltaGas Ltd. (TSE:ALA) have earned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is C$50.67.

A number of research analysts have issued reports on ALA shares. Royal Bank Of Canada lifted their price objective on AltaGas from C$48.00 to C$50.00 and gave the company an “outperform” rating in a report on Monday, March 9th. National Bank Financial lifted their price objective on AltaGas from C$50.00 to C$51.00 and gave the company an “outperform” rating in a report on Monday, March 9th. Scotiabank lifted their price objective on AltaGas from C$52.00 to C$54.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Jefferies Financial Group lifted their price objective on AltaGas from C$49.00 to C$53.00 in a report on Monday, March 9th. Finally, JPMorgan Chase & Co. lifted their price objective on AltaGas from C$49.00 to C$52.00 in a report on Tuesday, April 14th.

AltaGas Price Performance

AltaGas stock opened at C$48.89 on Tuesday. The company has a debt-to-equity ratio of 118.25, a current ratio of 0.82 and a quick ratio of 0.44. The company has a market capitalization of C$15.21 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of -4.97 and a beta of 0.34. AltaGas has a one year low of C$37.08 and a one year high of C$50.27. The business has a 50 day simple moving average of C$47.10 and a 200 day simple moving average of C$43.80.

AltaGas (TSE:ALA) last posted its earnings results on Friday, March 6th. The company reported C$0.77 EPS for the quarter. AltaGas had a return on equity of 8.74% and a net margin of 6.14%.The business had revenue of C$3.29 billion during the quarter. On average, sell-side analysts forecast that AltaGas will post 2.3006093 EPS for the current fiscal year.

AltaGas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.334 per share. The ex-dividend date of this dividend was Monday, March 16th. This is a boost from AltaGas’s previous quarterly dividend of $0.32. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.7%. AltaGas’s dividend payout ratio (DPR) is 50.81%.

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.