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

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

Several brokerages have issued reports on ALA. Raymond James boosted their price target on shares of AltaGas from C$35.00 to C$37.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Royal Bank of Canada increased their price target 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. 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. National Bankshares increased their target price on AltaGas from C$36.00 to C$39.00 and gave the stock an "outperform" rating in a report on Friday, August 23rd. Finally, 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.

Insider Activity

In other news, Senior Officer Bertram Grant Bradley sold 7,500 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of C$33.61, for a total transaction of C$252,075.00. In other news, Senior Officer Bertram Grant Bradley sold 7,500 shares of the business's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of C$33.61, for a total transaction of C$252,075.00. Also, Director Aaron Bishop sold 19,820 shares of the company's stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of C$33.58, for a total value of C$665,555.60. Over the last ninety days, insiders sold 33,320 shares of company stock worth $1,125,051. 0.58% of the stock is owned by corporate insiders.

AltaGas Stock Performance

Shares of TSE:ALA traded down C$0.06 during trading on Tuesday, hitting C$33.12. 641,882 shares of the stock were exchanged, compared to its average volume of 892,187. The company has a market capitalization of C$9.85 billion, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The company has a debt-to-equity ratio of 115.50, a quick ratio of 0.44 and a current ratio of 0.85. AltaGas has a 1-year low of C$26.10 and a 1-year high of C$35.77. The company's fifty day simple moving average is C$34.07 and its 200-day simple moving average is C$32.01.

AltaGas Dividend Announcement

The firm also recently announced 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 3.60%. The ex-dividend date is Monday, December 16th. AltaGas's payout ratio is presently 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.