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

AltaGas Ltd. (TSE:ALA) has been given a consensus rating of “Moderate Buy” by the ten brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is C$38.10.

ALA has been the topic of a number of recent research reports. Scotiabank increased their target price on AltaGas from C$38.00 to C$39.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. cut shares of AltaGas from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from C$36.00 to C$37.00 in a research note on Wednesday, October 23rd. ATB Capital set a C$36.00 target price on shares of AltaGas and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Royal Bank of Canada increased their price target on shares of AltaGas from C$37.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Finally, Jefferies Financial Group boosted their price objective on shares of AltaGas from C$37.00 to C$39.00 and gave the company a “buy” rating in a research report on Monday, September 30th.

AltaGas Trading Down 1.9 %

Shares of TSE:ALA opened at C$34.32 on Friday. The company has a debt-to-equity ratio of 115.50, a current ratio of 0.85 and a quick ratio of 0.44. AltaGas has a 1 year low of C$26.87 and a 1 year high of C$35.77. The company has a market cap of C$10.21 billion, a P/E ratio of 23.67, a PEG ratio of -4.97 and a beta of 1.23. The stock’s fifty day moving average price is C$34.03 and its 200-day moving average price is C$32.64.

AltaGas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.298 dividend. This represents a $1.19 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Monday, December 16th. AltaGas’s dividend payout ratio (DPR) is presently 82.07%.

Insider Activity at AltaGas

In other AltaGas news, Senior Officer Vernon Dai-Chung Yu purchased 7,600 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average price of C$33.12 per share, with a total value of C$251,719.60. Also, 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 value of C$105,960.00. 0.58% of the stock is currently 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.