Royal Bank Of Canada Issues Positive Forecast for AltaGas (TSE:ALA) Stock Price

AltaGas (TSE:ALA) had its price target increased by Royal Bank Of Canada from C$50.00 to C$55.00 in a report issued on Friday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

ALA has been the subject of several other reports. National Bank Financial upped their price objective on shares of AltaGas from C$50.00 to C$51.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. JPMorgan Chase & Co. upped their price objective on shares of AltaGas from C$49.00 to C$52.00 in a report on Tuesday, April 14th. Jefferies Financial Group upped their price objective on shares of AltaGas from C$49.00 to C$53.00 in a report on Monday, March 9th. Scotiabank increased their price target on shares of AltaGas from C$52.00 to C$54.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Finally, TD Securities increased their price target on shares of AltaGas from C$48.00 to C$51.00 and gave the company a “buy” rating in a report on Monday, March 9th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$53.25.

AltaGas Stock Performance

Shares of TSE ALA traded up C$1.29 during trading hours on Friday, hitting C$52.20. 1,195,935 shares of the stock were exchanged, compared to its average volume of 1,021,574. The company has a debt-to-equity ratio of 115.95, a current ratio of 0.88 and a quick ratio of 0.44. The company’s 50 day moving average is C$48.13 and its 200 day moving average is C$44.23. The firm has a market capitalization of C$16.24 billion, a P/E ratio of 21.05, a P/E/G 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$52.50.

AltaGas (TSE:ALA) last posted its quarterly earnings data on Thursday, April 30th. The company reported C$1.33 earnings per share (EPS) for the quarter. The business had revenue of C$3.97 billion during the quarter. AltaGas had a net margin of 4.02% and a return on equity of 5.92%. On average, research analysts expect that AltaGas will post 2.3006093 EPS for the current year.

AltaGas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were issued a $0.334 dividend. This is a boost from AltaGas’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Monday, March 16th. This represents a $1.34 dividend on an annualized basis and a yield of 2.6%. AltaGas’s payout ratio is currently 50.81%.

Key AltaGas News

Here are the key news stories impacting AltaGas this week:

• Positive Sentiment: Record Q1 results and outlook improvement — AltaGas reported C$1.33 EPS on C$3.97B revenue, highlighted a solid net margin and ROE, and raised 2026 capital spending guidance; this underpins the bullish tone from analysts. View Press Release
• Positive Sentiment: ATB Cormark raised its price target to C$56 and maintained an “outperform” rating, signaling further upside in analyst estimates. BayStreet.CA
• Positive Sentiment: RBC increased its target to C$55 and kept an “outperform” rating, adding institutional weight to the rally. BayStreet.CA
• Positive Sentiment: Scotiabank bumped its target to C$57 with a “sector outperform” call, the highest of the recent upgrades and a clear vote of confidence. BayStreet.CA
• Positive Sentiment: Business development catalyst — AltaGas is expanding propane customer reach in Asia amid ongoing supply shocks, which supports international demand dynamics for its commodity-linked businesses. Expansion Article
• Neutral Sentiment: National Bank Financial raised its target to C$52 (from C$51) but that target sits slightly below the current market price, making its impact mixed. BayStreet.CA
• Neutral Sentiment: Media coverage and inclusion in investor “top picks” lists and 52-week-high roundups add retail/institutional visibility but are secondary to fundamentals and analyst views. MSN Yahoo

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.