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

Shares of AltaGas Ltd. (TSE:ALA) have been given a consensus recommendation of “Moderate Buy” by the nine analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is C$41.33.

Several brokerages have recently commented on ALA. Scotiabank increased their target price on AltaGas from C$42.00 to C$45.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Jefferies Financial Group increased their target price on AltaGas from C$38.00 to C$40.00 in a report on Wednesday, April 30th. JPMorgan Chase & Co. increased their target price on AltaGas from C$39.00 to C$41.00 in a report on Monday, April 21st. National Bankshares increased their target price on AltaGas from C$41.00 to C$44.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Finally, CIBC increased their target price on AltaGas from C$42.00 to C$43.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd.

Insider Activity at AltaGas

In other AltaGas news, Director Peter James Ledig sold 13,361 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of C$40.04, for a total value of C$534,974.44. Also, Senior Officer Donald Mark Jenkins sold 1,800 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of C$39.02, for a total value of C$70,236.00. Insiders have sold a total of 107,161 shares of company stock worth $4,210,690 over the last 90 days. Insiders own 0.58% of the company’s stock.

AltaGas Stock Performance

AltaGas stock opened at C$38.32 on Wednesday. The company has a debt-to-equity ratio of 135.26, a current ratio of 1.03 and a quick ratio of 0.44. The stock has a fifty day moving average price of C$38.70 and a two-hundred day moving average price of C$36.55. AltaGas has a 52-week low of C$30.00 and a 52-week high of C$40.98. The firm has a market capitalization of C$11.41 billion, a P/E ratio of 22.21, a P/E/G ratio of -4.97 and a beta of 1.23.

AltaGas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 30th will be issued a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 3.29%. The ex-dividend date is Monday, June 16th. AltaGas’s dividend payout ratio is 68.98%.

AltaGas Company Profile

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.