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

Shares of AltaGas Ltd. (TSE:ALA) have been given an average rating of “Moderate Buy” by the ten analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is C$41.33.

A number of research analysts have commented on ALA shares. National Bankshares upped their price objective on AltaGas from C$41.00 to C$44.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Royal Bank of Canada upped their price objective on AltaGas from C$40.00 to C$43.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. BMO Capital Markets upped their price objective on AltaGas from C$40.00 to C$43.00 in a report on Friday, May 2nd. CIBC upped their price objective on AltaGas from C$42.00 to C$43.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Finally, Scotiabank upped their price objective on AltaGas from C$42.00 to C$45.00 and gave the company an “outperform” rating in a report on Friday, May 2nd.

Insider Activity

In other news, Senior Officer Donald Mark Jenkins sold 1,800 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of C$39.02, for a total transaction of C$70,236.00. Also, Senior Officer Corine Renae Knight Bushfield sold 144,064 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of C$38.00, for a total value of C$5,474,432.00. In the last three months, insiders sold 400,214 shares of company stock worth $15,372,463. 0.58% of the stock is currently owned by company insiders.

AltaGas Stock Down 1.3%

ALA stock opened at C$37.95 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. The firm has a market capitalization of C$11.30 billion, a PE ratio of 22.00, a PEG ratio of -4.97 and a beta of 1.23. AltaGas has a 1-year low of C$29.67 and a 1-year high of C$40.98. The business’s 50 day simple moving average is C$38.66 and its 200 day simple moving average is C$36.00.

AltaGas (TSE:ALA) last issued its quarterly earnings data on Friday, March 7th. The company reported C$0.76 EPS for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. As a group, research analysts anticipate that AltaGas will post 2.3006093 EPS for the current year.

AltaGas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.32%. This is an increase from AltaGas’s previous quarterly dividend of $0.30. The ex-dividend date was Monday, March 17th. AltaGas’s dividend payout ratio is presently 68.98%.

About AltaGas

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.