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

AltaGas Ltd. (TSE:ALA) has been given an average rating of “Moderate Buy” by the nine research firms that are currently covering the stock, MarketBeat reports. One 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 twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$44.33.

ALA has been the subject of a number of recent research reports. TD Securities boosted their price objective on AltaGas from C$45.00 to C$48.00 and gave the stock a “buy” rating in a report on Tuesday. CIBC lifted their target price on AltaGas from C$42.00 to C$43.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Veritas upgraded AltaGas to a “strong sell” rating in a report on Friday, May 2nd. JPMorgan Chase & Co. increased their price target on AltaGas from C$39.00 to C$41.00 in a research report on Monday, April 21st. Finally, Scotiabank lifted their price objective on shares of AltaGas from C$45.00 to C$46.00 and gave the stock an “outperform” rating in a report on Tuesday.

AltaGas Trading Up 0.9%

ALA opened at C$41.16 on Thursday. AltaGas has a fifty-two week low of C$32.02 and a fifty-two week high of C$42.03. The firm has a market capitalization of C$12.25 billion, a PE ratio of 23.86, a P/E/G ratio of -4.97 and a beta of 1.23. 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 company’s 50-day moving average is C$39.30 and its 200 day moving average is C$37.90.

AltaGas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.1%. AltaGas’s dividend payout ratio is currently 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.