AltaGas (TSE:ALA) Lifted to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of AltaGas (TSE:ALA) from a neutral rating to an overweight rating in a research report released on Tuesday, Price Targets.com reports. They currently have C$30.00 price objective on the stock.

A number of other research firms have also issued reports on ALA. National Bank Financial boosted their price objective on AltaGas to C$29.00 and gave the company an outperform rating in a research note on Friday, July 30th. CIBC reiterated an outperform rating and issued a C$29.00 price objective on shares of AltaGas in a report on Thursday, October 28th. BMO Capital Markets reissued an outperform rating on shares of AltaGas in a research report on Tuesday, September 21st. National Bankshares raised their price objective on AltaGas from C$26.00 to C$29.00 and gave the company an outperform rating in a research report on Friday, July 30th. Finally, Raymond James reaffirmed an outperform rating on shares of AltaGas in a research report on Friday, October 29th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Buy and a consensus price target of C$29.11.

TSE ALA opened at C$25.33 on Tuesday. The company has a market cap of C$7.10 billion and a PE ratio of 16.33. The company has a current ratio of 1.14, a quick ratio of 0.65 and a debt-to-equity ratio of 105.33. AltaGas has a 12 month low of C$18.23 and a 12 month high of C$26.94. The stock has a 50 day moving average of C$25.45 and a 200-day moving average of C$25.46.

AltaGas (TSE:ALA) last issued its quarterly earnings results on Thursday, October 28th. The company reported C$0.02 EPS for the quarter, topping the Zacks’ consensus estimate of C($0.05) by C$0.07. The company had revenue of C$2.34 billion during the quarter, compared to the consensus estimate of C$831.99 million. As a group, sell-side analysts predict that AltaGas will post 1.8200002 EPS for the current fiscal year.

The business also recently declared a monthly dividend, which will be paid on Wednesday, December 15th. Investors of record on Wednesday, December 15th will be paid a dividend of $0.0833 per share. The ex-dividend date is Wednesday, November 24th. This represents a $1.00 annualized dividend and a yield of 3.95%. AltaGas’s dividend payout ratio is currently 64.02%.

AltaGas Company Profile

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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