AltaGas Ltd. (TSE:ALA) Given Average Rating of “Moderate Buy” by Brokerages

AltaGas Ltd. (TSE:ALA) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is C$38.30.

A number of research analysts have recently issued reports on ALA shares. Royal Bank of Canada increased their target price on AltaGas from C$37.00 to C$40.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. CIBC increased their target price on AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th. JPMorgan Chase & Co. lowered AltaGas from an “overweight” rating to a “neutral” rating and raised their price objective for the company from C$36.00 to C$37.00 in a report on Wednesday, October 23rd. Jefferies Financial Group raised their price objective on AltaGas from C$37.00 to C$39.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Scotiabank raised their price objective on AltaGas from C$38.00 to C$39.00 and gave the company an “outperform” rating in a report on Thursday, October 24th.

AltaGas Stock Performance

AltaGas stock opened at C$34.48 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.44 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. The stock’s 50 day simple moving average is C$33.79 and its two-hundred day simple moving average is C$33.32. The firm has a market cap of C$10.25 billion, a PE ratio of 23.78, a P/E/G ratio of -4.97 and a beta of 1.23.

AltaGas (TSE:ALA) last announced its earnings results on Thursday, October 31st. The company reported C$0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.10 by C$0.04. AltaGas had a return on equity of 5.78% and a net margin of 3.58%. During the same quarter last year, the business posted $0.10 EPS. Analysts anticipate that AltaGas will post 2.3006093 earnings per share for the current year.

AltaGas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a $0.298 dividend. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Monday, December 16th. AltaGas’s dividend payout ratio (DPR) is presently 82.07%.

Insiders Place Their Bets

In related news, Senior Officer Vernon Dai-Chung Yu bought 7,600 shares of the business’s stock in a transaction on Monday, November 4th. The stock was acquired at an average cost of C$33.12 per share, with a total value of C$251,719.60. Also, Senior Officer Donald Mark Jenkins sold 12,352 shares of the firm’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. Corporate 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.