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

Shares of AltaGas Ltd. (TSE:ALA) have been given an average rating of “Moderate Buy” by the ten research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is C$38.10.

A number of research analysts have issued reports on the company. Jefferies Financial Group boosted their price target 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. BMO Capital Markets upped their target price on AltaGas from C$37.00 to C$40.00 in a report on Thursday, September 5th. National Bankshares upped their price target on AltaGas from C$36.00 to C$39.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. ATB Capital set a C$36.00 price target on AltaGas and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Finally, Raymond James upped their target price on AltaGas from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd.

AltaGas Trading Down 1.6 %

Shares of ALA stock opened at C$33.18 on Tuesday. The company has a debt-to-equity ratio of 115.50, a quick ratio of 0.44 and a current ratio of 0.85. AltaGas has a 1 year low of C$26.10 and a 1 year high of C$35.77. The stock has a fifty day moving average of C$34.08 and a two-hundred day moving average of C$31.98. The firm has a market capitalization of C$9.87 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23.

AltaGas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.298 per share. The ex-dividend date is Monday, December 16th. This represents a $1.19 annualized dividend and a yield of 3.59%. AltaGas’s payout ratio is 82.07%.

Insider Transactions at AltaGas

In related news, Senior Officer Randy Warren Toone sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of C$33.82, for a total value of C$101,460.00. In related news, Senior Officer Randy Warren Toone sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was 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 firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of C$33.61, for a total value of C$252,075.00. In the last quarter, insiders have sold 33,320 shares of company stock valued at $1,125,051. 0.58% of the stock is owned by corporate 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.