AltaGas Ltd. (TSE:ALA) Receives C$38.10 Average Price Target from Analysts

AltaGas Ltd. (TSE:ALA - Get Free Report) has been given an average recommendation of "Moderate Buy" by the ten analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is C$38.10.

A number of brokerages have commented on ALA. ATB Capital set a C$36.00 price objective on AltaGas and gave the stock an "outperform" rating in a research note on Tuesday, September 24th. Raymond James upped their price target on AltaGas from C$35.00 to C$37.00 and gave the stock an "outperform" rating in a report on Friday, August 2nd. National Bankshares increased their price objective on shares of AltaGas from C$36.00 to C$39.00 and gave the company an "outperform" rating in a research report on Friday, August 23rd. Royal Bank of Canada boosted their target price 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, JPMorgan Chase & Co. lowered shares of AltaGas from an "overweight" rating to a "neutral" rating and raised their price target for the company from C$36.00 to C$37.00 in a report on Wednesday, October 23rd.

Insider Activity at AltaGas

In related news, Senior Officer Vernon Dai-Chung Yu acquired 7,600 shares of AltaGas stock in a transaction that occurred on Monday, November 4th. The stock was acquired 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 stock in a transaction dated Monday, September 16th. The shares were sold at an average price of C$35.32, for a total transaction of C$105,960.00. 0.58% of the stock is currently owned by insiders.

AltaGas Trading Up 0.5 %

TSE:ALA traded up C$0.16 on Friday, hitting C$34.24. 1,540,262 shares of the stock were exchanged, compared to its average volume of 885,003. The stock has a market cap of C$10.18 billion, a PE ratio of 23.61, a PEG ratio of -4.97 and a beta of 1.23. AltaGas has a fifty-two week low of C$26.87 and a fifty-two week high of C$35.77. The company has a current ratio of 0.85, a quick ratio of 0.44 and a debt-to-equity ratio of 115.50. The stock has a fifty day moving average of C$34.05 and a 200-day moving average of C$32.50.

AltaGas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $0.298 per share. This represents a $1.19 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Monday, December 16th. AltaGas's dividend payout ratio (DPR) is 82.07%.

AltaGas Company Profile

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.