AltaGas Ltd. (TSE:ALA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of AltaGas Ltd. (TSE:ALA) have earned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is C$38.10.

A number of equities analysts recently commented on ALA shares. Royal Bank of Canada upped their target price on AltaGas from C$37.00 to C$40.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Jefferies Financial Group upped their price objective on shares of AltaGas from C$37.00 to C$39.00 and gave the stock a “buy” rating in a report on Monday, September 30th. BMO Capital Markets lifted their target price on shares of AltaGas from C$37.00 to C$40.00 in a research note on Thursday, September 5th. Scotiabank raised their price objective on shares of AltaGas from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. cut 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 report on Wednesday, October 23rd.

AltaGas Stock Down 0.7 %

Shares of TSE:ALA opened at C$33.20 on Wednesday. The company has a market cap of C$9.87 billion, a PE ratio of 22.90, a P/E/G ratio of -4.97 and a beta of 1.23. AltaGas has a 1 year low of C$26.91 and a 1 year high of C$35.77. The stock’s 50-day moving average is C$33.82 and its 200 day moving average is C$32.91. The company has a debt-to-equity ratio of 115.50, a current ratio of 0.85 and a quick ratio of 0.44.

AltaGas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be given a $0.298 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.59%. AltaGas’s dividend payout ratio is currently 82.07%.

Insider Buying and Selling

In related news, Senior Officer Vernon Dai-Chung Yu bought 7,600 shares of the company’s stock in a transaction on Friday, December 13th. The shares were acquired at an average cost of C$32.97 per share, with a total value of C$250,549.20. 0.58% of the stock is currently owned by company insiders.

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.