Altagas Ltd (ALA) Receives Average Recommendation of “Buy” from Brokerages
Altagas Ltd (TSE:ALA) has received a consensus rating of “Buy” from the thirteen research firms that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is C$35.11.
ALA has been the topic of several research reports. Beacon Securities reaffirmed a “buy” rating on shares of Altagas in a report on Thursday, September 21st. BMO Capital Markets set a C$32.00 price objective on shares of Altagas and gave the company a “market perform” rating in a research note on Friday, July 28th. Royal Bank Of Canada dropped their price objective on shares of Altagas from C$35.00 to C$33.00 and set a “sector perform” rating for the company in a research note on Friday, July 28th. Finally, Canaccord Genuity cut their target price on shares of Altagas from C$33.00 to C$31.00 and set a “hold” rating on the stock in a research report on Tuesday, July 25th.
Shares of Altagas (TSE:ALA) traded up 0.03% during mid-day trading on Wednesday, hitting $28.60. 202,308 shares of the company were exchanged. The firm has a market capitalization of $4.91 billion and a P/E ratio of 44.34. The company’s 50-day moving average price is $27.91 and its 200-day moving average price is $29.59. Altagas has a 12-month low of $26.87 and a 12-month high of $35.55.
Altagas (TSE:ALA) last posted its earnings results on Thursday, July 27th. The company reported C$0.17 EPS for the quarter, topping analysts’ consensus estimates of C$0.16 by C$0.01. The firm had revenue of C$539.00 million during the quarter, compared to analysts’ expectations of C$633.11 million. Altagas had a net margin of 1.84% and a negative return on equity of 0.93%. Equities research analysts predict that Altagas will post $0.94 earnings per share for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 25th will be paid a dividend of $0.175 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.35%. The ex-dividend date of this dividend is Friday, September 22nd.
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Altagas Company Profile
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.
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