Altagas (TSE:ALA) had its target price decreased by National Bank Financial from C$26.00 to C$17.00 in a report issued on Monday, BayStreet.CA reports. National Bank Financial currently has an outperform rating on the stock. National Bank Financial also issued estimates for Altagas’ FY2021 earnings at $1.27 EPS.
Several other research analysts have also commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Altagas from C$21.00 to C$22.00 in a report on Wednesday, December 18th. Canaccord Genuity cut their price target on shares of Altagas from C$23.00 to C$16.00 in a report on Friday, March 20th. TD Securities raised their price target on shares of Altagas from C$23.00 to C$24.00 in a report on Monday, March 2nd. Scotiabank raised their price target on shares of Altagas from C$21.00 to C$22.00 in a report on Friday, February 7th. Finally, CIBC dropped their price objective on shares of Altagas from C$23.00 to C$19.00 in a research note on Wednesday, March 18th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of C$20.90.
TSE ALA opened at C$12.82 on Monday. Altagas has a one year low of C$8.71 and a one year high of C$22.74. The company’s 50 day moving average price is C$18.53 and its 200 day moving average price is C$19.36. The company has a debt-to-equity ratio of 101.66, a quick ratio of 0.43 and a current ratio of 0.70. The firm has a market capitalization of $2.58 billion and a price-to-earnings ratio of 4.63.
Altagas (TSE:ALA) last posted its quarterly earnings results on Friday, February 28th. The company reported C$0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.55 by C$0.12. The business had revenue of C$1.53 billion during the quarter, compared to analysts’ expectations of C$1.77 billion. Sell-side analysts forecast that Altagas will post 1.3799999 EPS for the current fiscal year.
The company also recently disclosed a monthly dividend, which was paid on Monday, March 16th. Stockholders of record on Tuesday, February 25th were paid a dividend of $0.08 per share. The ex-dividend date was Monday, February 24th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 7.49%. Altagas’s dividend payout ratio is currently 34.66%.
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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