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

AltaGas Ltd. (TSE:ALA) has been given an average rating of “Moderate Buy” by the ten ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is C$38.10.

Several analysts have commented on ALA shares. JPMorgan Chase & Co. lowered AltaGas from an “overweight” rating to a “neutral” rating and raised their price objective for the company from C$36.00 to C$37.00 in a report on Wednesday, October 23rd. 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 report on Thursday, October 24th. BMO Capital Markets increased their price objective on shares of AltaGas from C$37.00 to C$40.00 in a report on Thursday, September 5th. Jefferies Financial Group boosted their target price on shares of AltaGas from C$37.00 to C$39.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, ATB Capital set a C$36.00 price target on shares of AltaGas and gave the company an “outperform” rating in a research note on Tuesday, September 24th.

Insider Activity at AltaGas

In other news, Senior Officer Vernon Dai-Chung Yu acquired 7,600 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of C$32.97 per share, with a total value of C$250,549.20. Insiders own 0.58% of the company’s stock.

AltaGas Price Performance

TSE:ALA opened at C$33.45 on Wednesday. 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 has a 52 week low of C$26.91 and a 52 week high of C$35.77. The stock’s 50-day moving average price is C$33.88 and its 200-day moving average price is C$32.83. The stock has a market capitalization of C$9.95 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23.

AltaGas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be given a $0.298 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.56%. AltaGas’s dividend payout ratio (DPR) is presently 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.