Altagas Ltd (ALA) Given Consensus Rating of “Buy” by Analysts

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%.

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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