Investment Analysts’ Recent Ratings Changes for Altagas (ALA)

Altagas (TSE: ALA) recently received a number of ratings updates from brokerages and research firms:

  • 10/25/2020 – Altagas had its price target raised by analysts at National Bank Financial from C$20.00 to C$21.00. They now have an “outperform” rating on the stock.
  • 10/22/2020 – Altagas had its price target raised by analysts at Canaccord Genuity from C$21.00 to C$22.00.
  • 10/19/2020 – Altagas was upgraded by analysts at Credit Suisse Group AG from a “neutral” rating to an “outperform” rating. They now have a C$20.00 price target on the stock, up previously from C$18.00.
  • 10/19/2020 – Altagas had its price target raised by analysts at Raymond James from C$22.00 to C$22.50. They now have an “outperform” rating on the stock.
  • 10/19/2020 – Altagas was upgraded by analysts at CSFB from a “neutral” rating to an “outperform” rating. They now have a C$20.00 price target on the stock, up previously from C$18.00.
  • 10/19/2020 – Altagas had its price target raised by analysts at National Bank Financial from C$20.00 to C$21.00. They now have an “outperform” rating on the stock.
  • 10/19/2020 – Altagas had its price target raised by analysts at TD Securities from C$19.00 to C$20.00. They now have a “buy” rating on the stock.
  • 10/19/2020 – Altagas had its price target raised by analysts at Cormark from C$18.00 to C$19.00.
  • 10/19/2020 – Altagas had its price target raised by analysts at BMO Capital Markets from C$21.00 to C$23.00.
  • 10/19/2020 – Altagas had its price target raised by analysts at CIBC from C$20.00 to C$21.00.
  • 10/14/2020 – Altagas had its “neutral” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a C$18.00 price target on the stock.
  • 10/14/2020 – Altagas was given a new C$18.00 price target on by analysts at CSFB. They now have a “neutral” rating on the stock.

Altagas stock opened at C$16.54 on Thursday. Altagas Ltd has a 12-month low of C$8.71 and a 12-month high of C$22.74. The company has a market capitalization of $4.62 billion and a price-to-earnings ratio of 11.50. The company has a debt-to-equity ratio of 88.74, a current ratio of 0.90 and a quick ratio of 0.48. The firm’s fifty day moving average price is C$16.58 and its 200 day moving average price is C$16.27.

Altagas (TSE:ALA) last released its quarterly earnings results on Thursday, July 30th. The company reported C$0.06 earnings per share (EPS) for the quarter. The firm had revenue of C$1.06 billion for the quarter, compared to analysts’ expectations of C$989.15 million. Analysts forecast that Altagas Ltd will post 1.37 earnings per share for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, October 26th will be paid a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 5.80%. The ex-dividend date of this dividend is Friday, October 23rd. Altagas’s dividend payout ratio (DPR) is 66.76%.

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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