Altagas Ltd (TSE:ALA) has earned a consensus rating of “Buy” from the eleven brokerages that are currently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is C$33.75.
Several equities analysts have commented on the stock. BMO Capital Markets reissued a “market perform” rating and set a C$32.00 target price on shares of Altagas in a research report on Friday, October 20th. Scotiabank dropped their target price on shares of Altagas from C$36.00 to C$34.00 and set an “outperform” rating on the stock in a research report on Friday, October 20th. Beacon Securities reissued a “buy” rating on shares of Altagas in a research report on Thursday, September 21st. Raymond James Financial, Inc. dropped their target price on shares of Altagas from C$32.00 to C$30.00 and set a “market perform” rating on the stock in a research report on Monday, October 23rd. Finally, CIBC lowered their price target on shares of Altagas from C$38.00 to C$35.00 in a report on Friday, October 20th.
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Altagas (TSE:ALA) traded up 1.08% during trading on Friday, hitting $28.96. The stock had a trading volume of 401,520 shares. The firm has a market capitalization of $4.97 billion and a PE ratio of 44.90. The firm has a 50 day moving average price of $28.41 and a 200-day moving average price of $29.32. Altagas has a 1-year low of $26.87 and a 1-year high of $35.15.
Altagas (TSE:ALA) last posted its earnings results on Thursday, July 27th. The company reported C$0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.16 by C$0.01. Altagas had a net margin of 1.84% and a negative return on equity of 0.93%. The firm had revenue of C$539.00 million for the quarter, compared to analysts’ expectations of C$633.11 million. On average, equities research analysts expect that Altagas will post $1.06 EPS for the current year.
The business also recently declared a monthly dividend, which was paid on Monday, October 16th. Investors of record on Monday, September 25th were issued a $0.175 dividend. The ex-dividend date was Friday, September 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.25%.
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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