Shares of AltaGas Ltd. (TSE:ALA - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the ten brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$38.40.
Several equities analysts recently weighed in on the company. CIBC lifted their target price on AltaGas from C$40.00 to C$42.00 and gave the company an "outperform" rating in a research report on Thursday, January 9th. Scotiabank increased their price target on AltaGas from C$39.00 to C$40.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, JPMorgan Chase & Co. downgraded AltaGas from an "overweight" rating to a "neutral" rating and lifted their price objective for the company from C$36.00 to C$37.00 in a report on Wednesday, October 23rd.
View Our Latest Analysis on ALA
Insider Transactions at AltaGas
In related news, Senior Officer Donald Mark Jenkins sold 12,352 shares of the company's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of C$33.90, for a total value of C$418,732.80. Also, Senior Officer Vernon Dai-Chung Yu bought 7,600 shares of the company's stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of C$32.97 per share, for a total transaction of C$250,549.20. Insiders own 0.58% of the company's stock.
AltaGas Stock Down 1.6 %
ALA stock traded down C$0.56 on Thursday, reaching C$34.50. 538,545 shares of the company traded hands, compared to its average volume of 692,709. The company has a market cap of C$10.27 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The firm has a fifty day simple moving average of C$33.79 and a 200-day simple moving average of C$33.73. AltaGas has a one year low of C$27.36 and a one year high of C$35.77. The company has a debt-to-equity ratio of 135.26, a current ratio of 1.03 and a quick ratio of 0.44.
AltaGas Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.298 per share. The ex-dividend date was Monday, December 16th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.46%. AltaGas's payout ratio is 68.98%.
About AltaGas
(
Get Free ReportAltaGas 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.
See Also
Before you consider AltaGas, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AltaGas wasn't on the list.
While AltaGas currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
