Altagas Ltd (TSE:ALA) Given Consensus Rating of “Hold” by Analysts

Shares of Altagas Ltd (TSE:ALA) have been given an average recommendation of “Hold” by the eleven research firms that are presently covering the company, 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 1 year price objective among analysts that have issued a report on the stock in the last year is C$21.00.

ALA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Altagas from C$16.00 to C$18.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. BMO Capital Markets lifted their price objective on shares of Altagas from C$18.00 to C$21.00 in a report on Wednesday, June 26th. CIBC lifted their price objective on shares of Altagas from C$20.00 to C$21.00 in a report on Tuesday, July 23rd. Royal Bank of Canada lifted 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 report on Tuesday, July 23rd. Finally, Cormark reaffirmed a “market perform” rating on shares of Altagas in a report on Friday, May 3rd.

Shares of TSE ALA traded down C$0.05 during mid-day trading on Friday, reaching C$20.01. 557,800 shares of the company were exchanged, compared to its average volume of 901,250. Altagas has a 52 week low of C$11.87 and a 52 week high of C$25.49. 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 stock has a market cap of $5.54 billion and a PE ratio of 18.22. The stock has a 50 day moving average of C$19.95.

The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th will be given a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date of this dividend is Wednesday, July 24th. Altagas’s payout ratio is 134.11%.

Altagas Company Profile

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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