Analysts Set AltaGas Ltd. (TSE:ALA) Price Target at C$41.33

AltaGas Ltd. (TSE:ALA - Get Free Report) has been given a consensus rating of "Moderate Buy" by the ten research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is C$41.33.

A number of brokerages have recently weighed in on ALA. Royal Bank of Canada lifted their price target on AltaGas from C$40.00 to C$43.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Scotiabank increased their target price on AltaGas from C$42.00 to C$45.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. National Bankshares increased their target price on shares of AltaGas from C$41.00 to C$44.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Veritas upgraded shares of AltaGas to a "strong sell" rating in a research note on Friday, May 2nd. Finally, CIBC upped their price target on AltaGas from C$42.00 to C$43.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd.

Insider Buying and Selling at AltaGas

In other AltaGas news, Senior Officer Corine Renae Knight Bushfield sold 144,064 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of C$38.00, for a total value of C$5,474,432.00. Also, Director Peter James Ledig sold 25,200 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of C$38.35, for a total value of C$966,420.00. Insiders have sold a total of 400,214 shares of company stock valued at $15,372,463 over the last three months. 0.58% of the stock is currently owned by insiders.

AltaGas Stock Up 1.2%

Shares of TSE ALA traded up C$0.44 during midday trading on Friday, reaching C$38.46. 991,981 shares of the company's stock were exchanged, compared to its average volume of 896,162. The stock has a market capitalization of C$11.45 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The business's fifty day moving average price is C$38.67 and its two-hundred day moving average price is C$35.95. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03. AltaGas has a 52-week low of C$29.67 and a 52-week high of C$40.98.

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

AltaGas Increases Dividend

The business also recently disclosed 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 represents a $1.26 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from AltaGas's previous quarterly dividend of $0.30. AltaGas's dividend payout ratio (DPR) is 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.