Analysts Set AltaGas Ltd. (TSE:ALA) Price Target at C$35.60

AltaGas Ltd. (TSE:ALA) has earned a consensus recommendation of “Buy” from the ten analysts that are covering the stock, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have covered the stock in the last year is C$36.60.

ALA has been the topic of several recent analyst reports. National Bankshares upped their price target on shares of AltaGas from C$35.00 to C$36.00 and gave the company an “outperform” rating in a report on Friday. ATB Capital upped their price target on shares of AltaGas from C$35.00 to C$36.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. increased their target price on shares of AltaGas from C$33.00 to C$36.00 in a report on Friday, July 19th. CIBC increased their target price on shares of AltaGas from C$38.00 to C$40.00 in a report on Monday, July 15th. Finally, Royal Bank of Canada increased their target price on shares of AltaGas from C$34.00 to C$37.00 and gave the stock an “outperform” rating in a report on Friday.

AltaGas Price Performance

The firm has a market capitalization of C$9.76 billion, a PE ratio of 16.03, a PEG ratio of -4.97 and a beta of 1.22. The company has a 50-day moving average of C$31.07 and a two-hundred day moving average of C$29.82. The company has a quick ratio of 0.44, a current ratio of 1.01 and a debt-to-equity ratio of 117.56. AltaGas has a twelve month low of C$24.67 and a twelve month high of C$33.94.

AltaGas (TSE:ALA) last posted its quarterly earnings results on Thursday, May 2nd. The company reported C$1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.05 by C$0.09. The firm had revenue of C$3.66 billion for the quarter, compared to analysts’ expectations of C$4.13 billion. AltaGas had a net margin of 5.03% and a return on equity of 7.93%. On average, equities research analysts forecast that AltaGas will post 2.1388695 earnings per share for the current fiscal year.

AltaGas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be issued a $0.298 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.19 dividend on an annualized basis and a dividend yield of ∞. AltaGas’s dividend payout ratio (DPR) is presently 57.77%.

Insider Buying and Selling

In related news, Senior Officer James Harbilas sold 100,000 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of C$30.45, for a total value of C$3,045,000.00. In related news, Senior Officer James Harbilas sold 100,000 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of C$30.45, for a total value of C$3,045,000.00. Also, Senior Officer Randy Warren Toone sold 20,000 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of C$29.85, for a total transaction of C$597,006.00. In the last quarter, insiders have bought 20,500 shares of company stock valued at $627,795 and have sold 172,750 shares valued at $5,257,062. Corporate insiders own 0.57% of the company’s stock.

About AltaGas

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.