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

AltaGas Ltd. (TSE:ALA) has been given an average recommendation of “Moderate Buy” by the ten brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is C$38.30.

ALA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered shares of AltaGas from an “overweight” rating to a “neutral” rating and raised their target price for the company from C$36.00 to C$37.00 in a research note on Wednesday, October 23rd. Scotiabank boosted their price objective on AltaGas from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. ATB Capital set a C$36.00 target price on AltaGas and gave the company an “outperform” rating in a report on Tuesday, September 24th. 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, 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.

Insider Activity

In other AltaGas news, Senior Officer Donald Mark Jenkins sold 12,352 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of C$33.90, for a total transaction of C$418,732.80. Also, Senior Officer Vernon Dai-Chung Yu acquired 7,600 shares of the business’s stock in a transaction on Monday, November 4th. The shares were bought at an average cost of C$33.12 per share, with a total value of C$251,719.60. 0.58% of the stock is owned by company insiders.

AltaGas Stock Up 2.2 %

ALA opened at C$34.98 on Friday. AltaGas has a twelve month low of C$26.91 and a twelve month high of C$35.77. 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 business has a 50 day moving average price of C$33.71 and a 200 day moving average price of C$33.20. The firm has a market cap of C$10.40 billion, a P/E ratio of 24.12, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23.

AltaGas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a $0.298 dividend. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date was Monday, December 16th. AltaGas’s dividend payout ratio is 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.