Altagas Ltd (ALA) Receives C$36.00 Consensus PT from Brokerages

Altagas Ltd (TSE:ALA) has received an average recommendation of “Hold” from the twelve ratings firms that are presently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is C$35.11.

Several analysts have issued reports on ALA shares. Raymond James Financial, Inc. restated a “market perform” rating and set a C$32.00 price objective on shares of Altagas in a research note on Thursday, April 27th. Scotiabank restated an “outperform” rating and set a C$36.00 price objective on shares of Altagas in a research note on Thursday, April 27th. Canaccord Genuity cut their price objective on Altagas from C$33.00 to C$31.00 and set a “hold” rating on the stock in a research note on Tuesday, July 25th. Royal Bank Of Canada cut their price objective on Altagas from C$35.00 to C$33.00 and set a “sector perform” rating on the stock in a research note on Friday, July 28th. Finally, BMO Capital Markets set a C$32.00 price objective on Altagas and gave the company a “market perform” rating in a research note on Friday, July 28th.

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Shares of Altagas (TSE:ALA) traded down 0.25% during midday trading on Friday, hitting $27.96. The stock had a trading volume of 142,439 shares. Altagas has a one year low of $27.82 and a one year high of $35.55. The stock has a 50 day moving average of $29.28 and a 200-day moving average of $30.48. The company has a market cap of $4.80 billion and a P/E ratio of 43.35.

Altagas (TSE:ALA) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.01. Altagas had a return on equity of 3.57% and a net margin of 6.19%. The business had revenue of $539 million for the quarter, compared to analysts’ expectations of $633.11 million. Analysts forecast that Altagas will post $0.95 EPS for the current fiscal year.

The business also recently declared a monthly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be given a dividend of $0.175 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.49%. The ex-dividend date is Wednesday, August 23rd.

About Altagas

AltaGas Ltd is a Canada-based energy infrastructure company. The Company operates through three segments: Gas, Power and Utilities. The Gas segment transacts approximately two billion cubic feet per day (Bcf/d) of natural gas and includes natural gas gathering and processing, natural gas liquids extraction and separation, transmission, storage and natural gas marketing, as well as its interest in Petrogas Energy Corp.

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