AltaGas (TSE:ALA) Given “Outperform” Rating at BMO Capital Markets

BMO Capital Markets reaffirmed their outperform rating on shares of AltaGas (TSE:ALA) in a research report released on Tuesday, Stock Target Advisor reports.

Several other brokerages also recently issued reports on ALA. CIBC boosted their price target on shares of AltaGas from C$28.00 to C$29.00 in a report on Friday, July 30th. National Bankshares raised their target price on shares of AltaGas from C$26.00 to C$29.00 and gave the company an outperform rating in a research note on Friday, July 30th. Credit Suisse Group boosted their price target on shares of AltaGas to C$29.00 and gave the stock an outperform rating in a research report on Thursday, June 17th. Raymond James boosted their price target on shares of AltaGas to C$32.00 and gave the stock an outperform rating in a research report on Friday, July 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of AltaGas from C$26.00 to C$28.00 and gave the stock a na rating in a research report on Friday, August 20th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus price target of C$28.50.

Shares of ALA opened at C$25.39 on Tuesday. AltaGas has a 1 year low of C$15.53 and a 1 year high of C$26.94. The company has a market cap of C$7.03 billion and a price-to-earnings ratio of 19.64. The company has a debt-to-equity ratio of 103.96, a quick ratio of 0.59 and a current ratio of 1.03. The firm has a fifty day moving average of C$25.83 and a 200-day moving average of C$24.27.

AltaGas (TSE:ALA) last announced its quarterly earnings results on Thursday, July 29th. The company reported C$0.08 earnings per share (EPS) for the quarter. The firm had revenue of C$2.01 billion for the quarter, compared to analyst estimates of C$1.05 billion. Analysts predict that AltaGas will post 1.8099999 EPS for the current year.

The company also recently announced a monthly dividend, which will be paid on Friday, October 15th. Stockholders of record on Monday, September 27th will be given a $0.083 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Friday, September 24th. AltaGas’s dividend payout ratio (DPR) is currently 76.03%.

About AltaGas

AltaGas Ltd. operates as a diversified energy infrastructure company in North America. The company operates through two segments, Utilities and Midstream. The Utilities segment owns and operates regulated natural gas distribution utilities in Michigan, Alaska, the District of Columbia, Maryland, and Virginia; and two regulated natural gas storage utilities in the United States serving approximately 1.7 million customers.

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Analyst Recommendations for AltaGas (TSE:ALA)

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