Shares of AltaGas Ltd. (TSE:ALA – Get Free Report) have been assigned a consensus rating of “Buy” from the seven research firms that are covering the firm, MarketBeat reports. Seven analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is C$54.88.
A number of brokerages have recently commented on ALA. JPMorgan Chase & Co. increased their target price on shares of AltaGas from C$49.00 to C$52.00 in a research report on Tuesday, April 14th. Scotiabank raised their target price on shares of AltaGas from C$57.00 to C$62.00 and gave the stock a “sector outperform” rating in a research note on Tuesday. National Bank Financial boosted their target price on AltaGas from C$52.00 to C$60.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. ATB Cormark Capital Markets upped their price target on AltaGas from C$54.00 to C$56.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Finally, Royal Bank Of Canada lifted their price objective 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.
Read Our Latest Analysis on AltaGas
AltaGas Stock Performance
AltaGas (TSE:ALA – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported C$1.33 earnings per share for the quarter. AltaGas had a return on equity of 5.92% and a net margin of 4.02%.The company had revenue of C$3.97 billion for the quarter. As a group, equities research analysts expect that AltaGas will post 2.3006093 earnings per share for the current fiscal year.
AltaGas Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid a $0.334 dividend. The ex-dividend date of this dividend was Tuesday, June 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 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.
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