AltaGas Ltd. (TSE:ALA) Receives C$37.90 Average PT from Brokerages

AltaGas Ltd. (TSE:ALA) has been assigned a consensus rating of “Buy” from the ten brokerages that are covering the firm, MarketBeat Ratings reports. Ten analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have issued ratings on the stock in the last year is C$37.90.

A number of analysts have commented on ALA shares. National Bankshares boosted their price target on shares of AltaGas from C$36.00 to C$39.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. ATB Capital set a C$36.00 price target on shares of AltaGas and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. CIBC boosted their price target on shares of AltaGas from C$38.00 to C$40.00 in a research report on Monday, July 15th. Scotiabank lifted their price objective on shares of AltaGas from C$36.00 to C$38.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Finally, BMO Capital Markets lifted their price objective on shares of AltaGas from C$37.00 to C$40.00 in a research note on Thursday, September 5th.

AltaGas Price Performance

ALA opened at C$34.66 on Friday. The firm has a market cap of C$10.31 billion, a price-to-earnings ratio of 23.90, a PEG ratio of -4.97 and a beta of 1.23. 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 has a twelve month low of C$24.67 and a twelve month high of C$35.49. The company has a fifty day simple moving average of C$33.79 and a 200 day simple moving average of C$31.57.

AltaGas (TSE:ALA) last issued its quarterly earnings data on Thursday, August 1st. The company reported C$0.14 earnings per share for the quarter, beating the consensus estimate of C$0.12 by C$0.02. The firm had revenue of C$2.78 billion for the quarter, compared to the consensus estimate of C$2.54 billion. AltaGas had a net margin of 3.58% and a return on equity of 5.78%. Equities research analysts expect that AltaGas will post 2.3006093 EPS for the current fiscal year.

AltaGas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were issued a dividend of $0.298 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.44%. AltaGas’s dividend payout ratio is currently 82.07%.

Insider Activity

In other news, Senior Officer Randy Warren Toone sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of C$33.82, for a total transaction of C$101,460.00. In other AltaGas news, Senior Officer Randy Warren Toone sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of C$33.82, for a total value of C$101,460.00. Also, Senior Officer Bertram Grant Bradley sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of C$33.61, for a total transaction of C$252,075.00. Insiders have sold 33,320 shares of company stock worth $1,125,051 over the last 90 days. 0.58% of the stock is owned by company insiders.

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.