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

Shares of AltaGas Ltd. (TSE:ALA) have been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is C$38.10.

A number of equities analysts recently issued reports on ALA shares. Jefferies Financial Group increased their price objective on AltaGas from C$37.00 to C$39.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Raymond James increased their price target on AltaGas from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. BMO Capital Markets lifted their price objective on shares of AltaGas from C$37.00 to C$40.00 in a research note on Thursday, September 5th. JPMorgan Chase & Co. lowered shares of AltaGas from an “overweight” rating to a “neutral” rating and increased their target price for the company from C$36.00 to C$37.00 in a research report on Wednesday, October 23rd. Finally, Scotiabank boosted their price target on shares of AltaGas from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th.

Insider Transactions at AltaGas

In other AltaGas news, Senior Officer Randy Warren Toone sold 3,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of C$35.32, for a total transaction of C$105,960.00. Also, Senior Officer Vernon Dai-Chung Yu acquired 7,600 shares of AltaGas stock in a transaction on Monday, November 4th. The shares were purchased at an average cost of C$33.12 per share, with a total value of C$251,719.60. Corporate insiders own 0.58% of the company’s stock.

AltaGas Price Performance

TSE ALA opened at C$34.24 on Friday. The company has a 50-day moving average price of C$34.05 and a two-hundred day moving average price of C$32.50. AltaGas has a 52 week low of C$26.87 and a 52 week high of C$35.77. The stock has a market cap of C$10.18 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The company has a current ratio of 0.85, a quick ratio of 0.44 and a debt-to-equity ratio of 115.50.

AltaGas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.298 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.19 annualized dividend and a dividend yield of 3.48%. AltaGas’s dividend payout ratio (DPR) is 82.07%.

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.