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

Shares of AltaGas Ltd. (TSE:ALA) have been assigned an average rating of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is C$38.30.

Several research analysts recently issued reports on the stock. CIBC upped their price target on shares of AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Thursday, January 9th. JPMorgan Chase & Co. cut shares of AltaGas from an “overweight” rating to a “neutral” rating and increased their price target for the company from C$36.00 to C$37.00 in a research note on Wednesday, October 23rd. ATB Capital set a C$36.00 price objective on shares of AltaGas and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Royal Bank of Canada increased their price objective on AltaGas from C$37.00 to C$40.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Finally, Jefferies Financial Group boosted their target price on AltaGas from C$37.00 to C$39.00 and gave the stock a “buy” rating in a research report on Monday, September 30th.

Insider Activity

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

AltaGas Trading Up 2.2 %

Shares of ALA opened at C$34.98 on Friday. The stock has a fifty day moving average price of C$33.71 and a two-hundred day moving average price of C$33.20. The company has a debt-to-equity ratio of 115.50, a quick ratio of 0.44 and a current ratio of 0.85. The company has a market cap of C$10.40 billion, a price-to-earnings ratio of 24.12, a PEG ratio of -4.97 and a beta of 1.23. AltaGas has a 52-week low of C$26.91 and a 52-week high of C$35.77.

AltaGas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Monday, December 16th. AltaGas’s dividend payout ratio (DPR) is currently 82.07%.

About AltaGas

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.