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, 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.

Analyst Recommendations for Altagas (TSE:ALA)

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