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

AltaGas Ltd. (TSE:ALA) has received an average recommendation of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is C$38.10.

A number of analysts have recently weighed in on ALA shares. BMO Capital Markets upped their price target on shares of AltaGas from C$37.00 to C$40.00 in a research note on Thursday, September 5th. Jefferies Financial Group boosted their target price 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. JPMorgan Chase & Co. downgraded shares of AltaGas from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from C$36.00 to C$37.00 in a report on Wednesday, October 23rd. National Bankshares boosted their target price on shares of AltaGas from C$36.00 to C$39.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Finally, Scotiabank boosted their target price 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.

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 bought at an average price of C$33.12 per share, for a total transaction of C$251,719.60. Also, Senior Officer Randy Warren Toone sold 3,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of C$35.32, for a total transaction of C$105,960.00. Insiders own 0.58% of the company’s stock.

AltaGas Trading Down 0.3 %

Shares of TSE:ALA opened at C$34.14 on Friday. The company has a 50 day moving average of C$34.03 and a 200-day moving average of C$32.56. The firm has a market cap of C$10.15 billion, a P/E ratio of 23.54, a P/E/G ratio of -4.97 and a beta of 1.23. AltaGas has a twelve month low of C$26.87 and a twelve month high of C$35.77. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.298 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.19 annualized dividend and a dividend yield of 3.49%. AltaGas’s dividend payout ratio (DPR) is presently 82.07%.

About AltaGas

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.