AltaGas Ltd. (TSE:ALA) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of AltaGas Ltd. (TSE:ALA) have received a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$44.89.

A number of equities research analysts have recently issued reports on the stock. National Bankshares boosted their price objective on shares of AltaGas from C$44.00 to C$45.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. TD Securities upped their target price on shares of AltaGas from C$45.00 to C$48.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Scotiabank upped their target price on shares of AltaGas from C$46.00 to C$48.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Jefferies Financial Group upped their target price on shares of AltaGas from C$40.00 to C$46.00 in a report on Wednesday, July 23rd. Finally, ATB Capital upped their target price on shares of AltaGas from C$42.00 to C$43.00 and gave the stock an “outperform” rating in a report on Tuesday, August 5th.

AltaGas Trading Up 0.3%

Shares of ALA stock opened at C$42.60 on Tuesday. AltaGas has a 1 year low of C$32.02 and a 1 year high of C$43.81. The firm has a fifty day moving average price of C$41.99 and a 200-day moving average price of C$40.08. The company has a debt-to-equity ratio of 135.26, a current ratio of 1.03 and a quick ratio of 0.44. The company has a market cap of C$12.75 billion, a price-to-earnings ratio of 16.38, a PEG ratio of -4.97 and a beta of 0.13.

AltaGas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 29th were issued a $0.315 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.26 annualized dividend and a yield of 3.0%. AltaGas’s dividend payout ratio is currently 47.12%.

AltaGas Company Profile

AltaGas Ltd owns and operates a diversified basket of energy infrastructure businesses. Business is conducted through four segments: Midstream, power, utilities and corporate. Utility business owns and operates rate-regulated natural gas distribution assets across North America. Midstream business subsequent to the sale of non-core midstream assets in Canada and also engaged in the natural gas liquid processing and extraction, transportation, and storage.