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

AltaGas Ltd. (TSE:ALA) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is C$39.11.

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

AltaGas Price Performance

Shares of AltaGas stock opened at C$37.81 on Friday. AltaGas has a twelve month low of C$28.86 and a twelve month high of C$40.17. The stock has a market capitalization of C$11.26 billion, a P/E ratio of 21.92, a PEG ratio of -4.97 and a beta of 1.23. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. The business’s fifty day moving average price is C$36.69 and its 200 day moving average price is C$34.84.

AltaGas (TSE:ALA) last issued its earnings results on Friday, March 7th. The company reported C$0.76 earnings per share for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. As a group, research analysts anticipate that AltaGas will post 2.3006093 earnings per share for the current year.

AltaGas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.33%. This is a positive change from AltaGas’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Monday, March 17th. AltaGas’s payout ratio is presently 68.98%.

Insider Transactions at AltaGas

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

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.