Analysts Set AltaGas Ltd. (TSE:ALA) PT at C$39.11

AltaGas Ltd. (TSE:ALA) has been assigned an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is C$39.11.

A number of equities analysts recently weighed in on the stock. Scotiabank boosted their price target on shares of AltaGas from C$40.00 to C$42.00 in a report on Monday, March 10th. CIBC boosted their price objective on shares of AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research note on Thursday, January 9th.

Insider Activity at AltaGas

In other news, Senior Officer Donald Mark Jenkins sold 12,352 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of C$33.90, for a total transaction of C$418,732.80. Also, Senior Officer Randy Warren Toone sold 92,000 shares of the company’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of C$39.19, for a total transaction of C$3,605,480.00. Insiders have sold a total of 410,766 shares of company stock worth $15,720,960 in the last 90 days. Company insiders own 0.58% of the company’s stock.

AltaGas Stock Down 0.3 %

Shares of TSE:ALA opened at C$36.55 on Friday. The stock has a market cap of C$10.88 billion, a price-to-earnings ratio of 21.19, a PEG ratio of -4.97 and a beta of 1.23. The business’s 50 day moving average is C$36.45 and its 200 day moving average is C$34.79. AltaGas has a 12-month low of C$28.76 and a 12-month high of C$40.17. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26.

AltaGas (TSE:ALA) last issued its quarterly earnings data on Friday, March 7th. The company reported C$0.76 earnings per share (EPS) for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%. On average, sell-side analysts forecast that AltaGas will post 2.3006093 earnings per share for the current fiscal year.

AltaGas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were issued a dividend of $0.315 per share. This is a positive change from AltaGas’s previous quarterly dividend of $0.30. This represents a $1.26 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend was Monday, March 17th. AltaGas’s dividend payout ratio is currently 68.98%.

AltaGas Company Profile

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.