AltaGas Ltd. (TSE:ALA) Receives C$38.10 Consensus Target Price from Brokerages

AltaGas Ltd. (TSE:ALA - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the ten brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is C$38.10.

Several research firms have recently issued reports on ALA. ATB Capital set a C$36.00 price target on shares of AltaGas and gave the company an "outperform" rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. downgraded AltaGas from an "overweight" rating to a "neutral" rating and lifted their target price for the stock from C$36.00 to C$37.00 in a report on Wednesday, October 23rd. Scotiabank increased their price target on AltaGas from C$38.00 to C$39.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Jefferies Financial Group lifted their price objective 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, Royal Bank of Canada increased their target price on shares of AltaGas from C$37.00 to C$40.00 and gave the company an "outperform" rating in a research report on Thursday, October 3rd.

Insider Activity

In other news, Senior Officer Vernon Dai-Chung Yu purchased 7,600 shares of the business's stock in a transaction dated Monday, November 4th. The stock was bought at an average price of C$33.12 per share, for a total transaction of C$251,719.60. 0.58% of the stock is currently owned by corporate insiders.

AltaGas Price Performance

ALA stock traded up C$0.35 during trading on Wednesday, reaching C$33.45. 294,542 shares of the company were exchanged, compared to its average volume of 920,888. The company has a market capitalization of C$9.95 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of -4.97 and a beta of 1.23. The company has a debt-to-equity ratio of 115.50, a current ratio of 0.85 and a quick ratio of 0.44. The company has a 50-day moving average of C$33.87 and a two-hundred day moving average of C$32.85. AltaGas has a twelve month low of C$26.91 and a twelve month high of C$35.77.

AltaGas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.298 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.19 annualized dividend and a yield of 3.56%. 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.