AltaGas (TSE:ALA) Price Target Raised to C$54.00

AltaGas (TSE:ALA) had its price target upped by Scotiabank from C$52.00 to C$54.00 in a research note issued to investors on Monday,BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

A number of other research firms have also recently commented on ALA. National Bank Financial lifted their target price on shares of AltaGas from C$50.00 to C$51.00 and gave the stock an “outperform” rating in a research note on Monday, March 9th. Jefferies Financial Group lifted their target price on shares of AltaGas from C$49.00 to C$53.00 in a research note on Monday, March 9th. ATB Cormark Capital Markets lifted their target price on shares of AltaGas from C$49.00 to C$52.00 and gave the stock an “outperform” rating in a research note on Monday, March 9th. TD Securities lifted their target price on shares of AltaGas from C$48.00 to C$51.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Finally, Royal Bank Of Canada lifted their price objective on shares of AltaGas from C$48.00 to C$50.00 and gave the company an “outperform” rating in a research note on Monday, March 9th. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$50.11.

AltaGas Stock Down 0.8%

ALA stock opened at C$48.92 on Monday. The firm has a 50 day moving average of C$46.15 and a 200 day moving average of C$43.52. The stock has a market capitalization of C$15.22 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of -4.97 and a beta of 0.34. The company has a quick ratio of 0.44, a current ratio of 0.82 and a debt-to-equity ratio of 118.25. AltaGas has a 52 week low of C$36.11 and a 52 week high of C$50.27.

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

AltaGas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.334 per share. This is a positive change 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 annualized dividend and a dividend yield of 2.7%. AltaGas’s payout ratio is presently 50.81%.

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.