Brokerages Set AltaGas Ltd. (TSE:ALA) PT at C$37.90

AltaGas Ltd. (TSE:ALA) has earned a consensus recommendation of “Buy” from the ten research firms that are currently covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have issued a report on the stock in the last year is C$37.90.

ALA has been the subject of several recent research reports. Raymond James lifted their target price on shares of AltaGas from C$35.00 to C$37.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Royal Bank of Canada upped their price objective on shares of AltaGas from C$37.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. BMO Capital Markets raised their target price on AltaGas from C$37.00 to C$40.00 in a research report on Thursday, September 5th. Jefferies Financial Group upped their price target on AltaGas from C$37.00 to C$39.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, ATB Capital set a C$36.00 price objective on AltaGas and gave the company an “outperform” rating in a report on Tuesday, September 24th.

AltaGas Trading Up 1.4 %

TSE ALA opened at C$34.35 on Friday. The company has a fifty day moving average of C$33.72 and a 200 day moving average of C$31.51. The company has a market capitalization of C$10.22 billion, a PE ratio of 23.69, a P/E/G ratio of -4.97 and a beta of 1.23. The company has a debt-to-equity ratio of 115.50, a current ratio of 0.85 and a quick ratio of 0.44. AltaGas has a 1 year low of C$24.67 and a 1 year high of C$35.49.

AltaGas (TSE:ALA) last issued its earnings results on Thursday, August 1st. The company reported C$0.14 EPS for the quarter, topping analysts’ consensus estimates of C$0.12 by C$0.02. The firm had revenue of C$2.78 billion for the quarter, compared to the consensus estimate of C$2.54 billion. AltaGas had a return on equity of 5.78% and a net margin of 3.58%. Research analysts forecast that AltaGas will post 2.3006093 earnings per share for the current year.

AltaGas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were paid a $0.298 dividend. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend was Monday, September 16th. AltaGas’s dividend payout ratio is currently 82.07%.

Insider Activity at AltaGas

In other news, Senior Officer Bertram Grant Bradley sold 7,500 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of C$33.61, for a total value of C$252,075.00. In other news, Senior Officer Bertram Grant Bradley sold 7,500 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of C$33.61, for a total value of C$252,075.00. Also, Senior Officer Randy Warren Toone sold 3,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of C$35.32, for a total transaction of C$105,960.00. Insiders have sold 33,320 shares of company stock worth $1,125,051 over the last quarter. 0.58% of the stock is currently owned by company insiders.

About AltaGas

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.