AltaGas Ltd. (TSE:ALA) Receives C$38.30 Consensus PT from Analysts

AltaGas Ltd. (TSE:ALA - Get Free Report) has been assigned an average rating of "Moderate Buy" from the ten ratings firms that are covering the stock, Marketbeat Ratings reports. One 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 ratings on the stock in the last year is C$38.30.

A number of research analysts recently issued reports on ALA shares. JPMorgan Chase & Co. cut shares of 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 research note on Wednesday, October 23rd. Royal Bank of Canada raised their price target on shares of AltaGas from C$37.00 to C$40.00 and gave the stock an "outperform" rating in a report on Thursday, October 3rd. ATB Capital set a C$36.00 price target on AltaGas and gave the company an "outperform" rating in a research note on Tuesday, September 24th. Jefferies Financial Group upped their price target on AltaGas from C$37.00 to C$39.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. Finally, CIBC boosted their target price on shares of AltaGas from C$40.00 to C$42.00 and gave the stock an "outperform" rating in a research report on Thursday, January 9th.

AltaGas Stock Performance

Shares of ALA traded up C$0.76 during trading hours on Friday, hitting C$34.98. The company had a trading volume of 694,639 shares, compared to its average volume of 802,135. The firm has a market cap of C$10.40 billion, a price-to-earnings ratio of 24.12, a PEG ratio of -4.97 and a beta of 1.23. The business has a fifty day moving average of C$33.71 and a 200-day moving average of C$33.20. The company has a quick ratio of 0.44, a current ratio of 0.85 and a debt-to-equity ratio of 115.50. AltaGas has a 12 month low of C$26.91 and a 12 month high of C$35.77.

AltaGas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders 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 3.41%. AltaGas's dividend payout ratio is currently 82.07%.

Insiders Place Their Bets

In other AltaGas news, Senior Officer Donald Mark Jenkins sold 12,352 shares of the company's stock in a transaction 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 on Monday, November 4th. The shares were bought at an average cost of C$33.12 per share, for a total transaction of C$251,719.60. Company insiders own 0.58% of the company's stock.

About AltaGas

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.