AltaGas Ltd. (TSE:ALA – Get Free Report) has received a consensus rating of “Buy” from the eight research firms that are currently covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have covered the stock in the last year is C$33.75.
A number of analysts recently issued reports on the company. Jefferies Financial Group set a C$34.00 price objective on AltaGas and gave the company a “buy” rating in a research report on Tuesday, February 27th. CIBC lifted their price objective on AltaGas from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research report on Friday, December 29th. TD Securities lifted their price objective on AltaGas from C$32.00 to C$34.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Scotiabank lifted their price objective on AltaGas from C$31.00 to C$33.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Finally, National Bankshares lifted their price objective on AltaGas from C$31.00 to C$33.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th.
View Our Latest Research Report on ALA
Insider Buying and Selling
AltaGas Stock Performance
Shares of TSE ALA opened at C$29.94 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.89 and a debt-to-equity ratio of 125.64. The stock has a market capitalization of C$8.84 billion, a price-to-earnings ratio of 13.25, a PEG ratio of -4.97 and a beta of 1.22. The stock’s fifty day simple moving average is C$29.17 and its 200 day simple moving average is C$27.96. AltaGas has a 52-week low of C$22.57 and a 52-week high of C$30.08.
AltaGas (TSE:ALA – Get Free Report) last issued its quarterly earnings results on Friday, March 8th. The company reported C$0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of C$0.75. AltaGas had a return on equity of 8.90% and a net margin of 5.18%. The business had revenue of C$3.29 billion for the quarter, compared to the consensus estimate of C$4.11 billion. As a group, sell-side analysts forecast that AltaGas will post 2.1549815 earnings per share for the current fiscal year.
AltaGas Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 28th were paid a $0.298 dividend. This is a boost from AltaGas’s previous quarterly dividend of $0.28. This represents a $1.19 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend was Thursday, March 14th. AltaGas’s dividend payout ratio (DPR) is 52.65%.
About AltaGas
AltaGas Ltd. operates as an energy infrastructure company in North America. The company operates through Utilities and Midstream segments. The Utilities segment owns and operates franchised, cost-of-service, rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.6 million customers.
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