Altagas Ltd (TSE:ALA) Receives C$21.00 Average Target Price from Analysts

Shares of Altagas Ltd (TSE:ALA) have received a consensus recommendation of “Hold” from the eleven analysts that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is C$21.00.

A number of equities research analysts have recently commented on ALA shares. Royal Bank of Canada raised their price objective on shares of Altagas from C$20.00 to C$22.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 23rd. BMO Capital Markets raised their price objective on shares of Altagas from C$18.00 to C$21.00 in a research note on Wednesday, June 26th. TD Securities raised their price objective on shares of Altagas from C$22.00 to C$23.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Cormark reaffirmed a “market perform” rating on shares of Altagas in a research note on Friday, May 3rd. Finally, CIBC raised their price objective on shares of Altagas from C$20.00 to C$21.00 in a research note on Tuesday, July 23rd.

Shares of TSE ALA traded up C$0.09 during midday trading on Friday, reaching C$18.96. 561,800 shares of the stock were exchanged, compared to its average volume of 892,670. The firm has a market cap of $5.25 billion and a price-to-earnings ratio of 17.27. Altagas has a twelve month low of C$11.87 and a twelve month high of C$25.48. The firm has a 50-day simple moving average of C$19.92 and a two-hundred day simple moving average of C$18.40. The company has a quick ratio of 0.25, a current ratio of 0.69 and a debt-to-equity ratio of 111.23.

The company also recently disclosed a monthly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th were issued a $0.08 dividend. The ex-dividend date was Wednesday, July 24th. This represents a $0.96 dividend on an annualized basis and a yield of 5.06%. Altagas’s payout ratio is currently 134.11%.

About Altagas

AltaGas Ltd. operates as a diversified energy infrastructure company in North America. The company operates through three segments: Utilities, Midstream, and Power. The Utilities segment owns and operates regulated natural gas distribution utilities in Michigan, Alaska, the District of Columbia, Maryland, and Virginia; and 2 regulated natural gas storage utilities in the United States serving approximately 1.6 million customers.

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Analyst Recommendations for Altagas (TSE:ALA)

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