AltaGas Ltd. (TSE:ALA) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• AltaGas Ltd. has received an average rating of "Moderate Buy" from nine analysts, with a range of buy, hold, and sell recommendations.
• Recent target price increases from various analysts place the average 1-year target price at C$44.33, reflecting positive sentiment about the stock's future performance.
• The company declared a quarterly dividend of $0.315, which translates to an annual yield of 3.1%, and has a payout ratio of 47.12%.

AltaGas Ltd. (TSE:ALA - Get Free Report) has been assigned an average rating of "Moderate Buy" from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is C$44.33.

A number of brokerages have commented on ALA. TD Securities lifted their target price on shares of AltaGas from C$45.00 to C$48.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. ATB Capital lifted their price target on shares of AltaGas from C$42.00 to C$43.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. National Bankshares lifted their price target on shares of AltaGas from C$44.00 to C$45.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Jefferies Financial Group lifted their price objective on shares of AltaGas from C$40.00 to C$46.00 in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada lifted their price objective on shares of AltaGas from C$43.00 to C$44.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th.

AltaGas Trading Up 0.1%

ALA stock traded up C$0.05 during trading on Monday, reaching C$41.32. 56,002 shares of the stock were exchanged, compared to its average volume of 782,069. 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 has a 50 day moving average price of C$40.52 and a 200-day moving average price of C$38.92. AltaGas has a 1 year low of C$32.02 and a 1 year high of C$42.31. The firm has a market capitalization of C$12.36 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of -4.97 and a beta of 0.21.

AltaGas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Tuesday, September 16th will be issued a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.0%. AltaGas's dividend payout ratio (DPR) is currently 47.12%.

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.