AltaGas (ALA) Receives C$28.33 Consensus Price Target from Analysts

AltaGas (TSE:ALA) has been given a consensus rating of “Buy” by the eight brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$27.57.

ALA has been the topic of a number of recent research reports. Canaccord Genuity dropped their target price on AltaGas from C$31.00 to C$28.00 in a research report on Wednesday, February 14th. Raymond James lowered AltaGas from a “market perform” rating to an “underperform” rating in a research report on Tuesday, April 24th. CIBC lowered AltaGas from an “outperform” rating to a “neutral” rating and dropped their target price for the company from C$35.00 to C$32.00 in a research report on Friday, March 2nd. BMO Capital Markets dropped their target price on AltaGas from C$32.00 to C$30.00 in a research report on Tuesday, February 6th. Finally, National Bank Financial lowered AltaGas from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Sunday, January 28th.

Shares of AltaGas traded up C$0.32, reaching C$26.04, during mid-day trading on Thursday, according to Marketbeat. 538,994 shares of the company’s stock were exchanged, compared to its average volume of 640,442. AltaGas has a twelve month low of C$22.82 and a twelve month high of C$31.00.

AltaGas (TSE:ALA) last released its quarterly earnings results on Thursday, April 26th. The company reported C$0.40 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.41 by C($0.01). AltaGas had a negative return on equity of 5.43% and a negative net margin of 3.60%. The business had revenue of C$878.40 million for the quarter, compared to analyst estimates of C$797.00 million.

The company also recently announced a monthly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, May 25th will be given a $0.183 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 8.43%. The ex-dividend date is Thursday, May 24th.

About AltaGas

AltaGas Ltd. operates as a diversified energy infrastructure company in North America. It operates through three segments: Gas, Power, and Utilities. The Gas segment engages in natural gas gathering and processing; natural gas liquids (NGL) extraction and separation, transmission, and storage; and natural gas and NGL marketing activities, as well as buying and selling natural gas.

Analyst Recommendations for AltaGas (TSE:ALA)

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