AltaGas Ltd. (TSE:ALA) Receives C$38.30 Average Target Price from Brokerages

Shares of AltaGas Ltd. (TSE:ALA) have been given a consensus recommendation of “Moderate Buy” by the ten analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is C$38.40.

Several analysts have commented on the stock. Scotiabank boosted their price target on shares of AltaGas from C$39.00 to C$40.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. downgraded AltaGas from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from C$36.00 to C$37.00 in a research report on Wednesday, October 23rd. Finally, CIBC raised their price target on AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a report on Thursday, January 9th.

AltaGas Price Performance

ALA stock opened at C$34.78 on Thursday. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03. The company’s fifty day moving average price is C$33.85 and its 200-day moving average price is C$33.82. AltaGas has a one year low of C$28.08 and a one year high of C$35.77. The company has a market capitalization of C$10.35 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23.

AltaGas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were issued a $0.298 dividend. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Monday, December 16th. AltaGas’s dividend payout ratio (DPR) is 68.98%.

Insider Buying and Selling at AltaGas

In other news, Senior Officer Donald Mark Jenkins sold 12,352 shares of AltaGas stock in a transaction on Monday, January 13th. The stock was sold at an average price of C$33.90, for a total transaction of C$418,732.80. Also, Senior Officer Vernon Dai-Chung Yu bought 7,600 shares of the stock in a transaction dated Friday, December 13th. The shares were bought at an average cost of C$32.97 per share, with a total value of C$250,549.20. Company insiders own 0.58% of the company’s stock.

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.