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

AltaGas Ltd. (TSE:ALA) has been given an average recommendation of “Moderate Buy” by the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$38.10.

Several brokerages recently commented on ALA. Royal Bank of Canada boosted their price objective on shares of AltaGas from C$37.00 to C$40.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. ATB Capital set a C$36.00 price objective on AltaGas and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Scotiabank boosted their target price on AltaGas from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Jefferies Financial Group raised their price target on AltaGas from C$37.00 to C$39.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, BMO Capital Markets boosted their price objective on AltaGas from C$37.00 to C$40.00 in a report on Thursday, September 5th.

AltaGas Stock Down 0.1 %

ALA stock opened at C$33.48 on Wednesday. The stock has a 50-day simple moving average of C$33.76 and a two-hundred day simple moving average of C$32.95. AltaGas has a twelve month low of C$26.91 and a twelve month high of C$35.77. The firm has a market capitalization of C$9.96 billion, a PE ratio of 23.09, a PEG ratio of -4.97 and a beta of 1.23. The company has a quick ratio of 0.44, a current ratio of 0.85 and a debt-to-equity ratio of 115.50.

AltaGas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.298 per share. This represents a $1.19 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Monday, December 16th. AltaGas’s dividend payout ratio (DPR) is presently 82.07%.

Insider Activity

In related news, Senior Officer Vernon Dai-Chung Yu bought 7,600 shares of the stock in a transaction dated Friday, December 13th. The stock was bought at an average price of C$32.97 per share, with a total value of C$250,549.20. 0.58% of the stock is owned by corporate insiders.

AltaGas Company Profile

AltaGas Ltd. operates as an energy infrastructure company in North America. The company operates through Utilities and Midstream segments. The Utilities segment owns and operates franchised, cost-of-service, rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.6 million customers.