AltaGas Ltd. (TSE:ALA) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• AltaGas Ltd. has received a consensus recommendation of "Moderate Buy" from eight brokerages, with six analysts recommending a buy, one a hold, and one a sell.
• The average 1-year target price for AltaGas shares is C$44.89, with several brokerages recently raising their price targets.
• AltaGas announced a quarterly dividend of $0.315 per share, which yields approximately 3.0% annually, reflecting a payout ratio of 47.12%.

AltaGas Ltd. (TSE:ALA - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eight brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is C$44.89.

ALA has been the subject of a number of recent analyst reports. Jefferies Financial Group boosted their price objective on shares of AltaGas from C$40.00 to C$46.00 in a report on Wednesday, July 23rd. CIBC boosted their price objective on shares of AltaGas from C$44.00 to C$46.00 and gave the stock an "outperform" rating in a report on Thursday, October 9th. ATB Capital boosted their target price on shares of AltaGas from C$42.00 to C$43.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada boosted their target price on shares of AltaGas from C$43.00 to C$44.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Finally, National Bankshares boosted their target price on shares of AltaGas from C$44.00 to C$45.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th.

AltaGas Price Performance

Shares of TSE ALA opened at C$42.60 on Tuesday. AltaGas has a twelve month low of C$32.02 and a twelve month high of C$43.81. The firm has a market cap of C$12.75 billion, a P/E ratio of 16.38, a PEG ratio of -4.97 and a beta of 0.13. The company has a 50 day moving average of C$41.99 and a 200 day moving average of C$40.08. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 29th were paid a dividend of $0.315 per share. The ex-dividend date was Tuesday, September 16th. This represents a $1.26 dividend on an annualized basis and a yield of 3.0%. AltaGas's payout ratio 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.

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