AltaGas Ltd. (TSE:ALA) Given Consensus Rating of “Moderate Buy” by Brokerages

AltaGas Ltd. (TSE:ALA) has received an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. One 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 brokers that have issued ratings on the stock in the last year is C$38.10.

A number of analysts recently commented on ALA shares. ATB Capital set a C$36.00 price objective on AltaGas and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. National Bankshares lifted their price target on AltaGas from C$36.00 to C$39.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Royal Bank of Canada lifted their price target on AltaGas from C$37.00 to C$40.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Scotiabank lifted their price target on AltaGas from C$38.00 to C$39.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, BMO Capital Markets lifted their price target on AltaGas from C$37.00 to C$40.00 in a report on Thursday, September 5th.

Insider Buying and Selling

In related news, Senior Officer Randy Warren Toone sold 3,000 shares of the business’s stock in a transaction that occurred 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. In other AltaGas news, Director Aaron Bishop sold 19,820 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of C$33.58, for a total value of C$665,555.60. Also, Senior Officer Randy Warren Toone sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of C$35.32, for a total value of C$105,960.00. In the last ninety days, insiders have sold 33,320 shares of company stock valued at $1,125,051. Corporate insiders own 0.58% of the company’s stock.

AltaGas Trading Down 1.6 %

AltaGas stock opened at C$33.18 on Tuesday. The stock has a market cap of C$9.87 billion, a PE ratio of 22.88, a P/E/G ratio of -4.97 and a beta of 1.23. The stock has a 50-day moving average price of C$34.08 and a 200 day moving average price of C$31.98. AltaGas has a 52 week low of C$26.10 and a 52 week high of C$35.77. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.298 dividend. This represents a $1.19 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, December 16th. AltaGas’s dividend payout ratio is currently 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.