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

Key Points

• AltaGas Ltd. has been rated a "Moderate Buy" by nine analysts, with seven analysts issuing buy ratings and one each providing a sell and hold rating.
• The average twelve-month price target for the stock has risen to C$44.33, with several brokerages increasing their price objectives in recent reports.
• AltaGas announced a quarterly dividend of $0.315 per share, resulting in an annualized dividend yield of 2.9% and a payout ratio of 47.12%.

Shares of AltaGas Ltd. (TSE:ALA - Get Free Report) have earned a consensus rating of "Moderate Buy" from the nine analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is C$44.33.

Several equities research analysts recently issued reports on ALA shares. ATB Capital lifted their price objective on AltaGas from C$42.00 to C$43.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. TD Securities lifted their price objective on AltaGas from C$45.00 to C$48.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Scotiabank lifted their price objective on AltaGas from C$45.00 to C$46.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. National Bankshares lifted their price objective on AltaGas from C$44.00 to C$45.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Finally, Royal Bank Of Canada lifted their price objective on AltaGas from C$43.00 to C$44.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th.

AltaGas Stock Up 1.1%

Shares of ALA opened at C$43.44 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. AltaGas has a 12 month low of C$32.02 and a 12 month high of C$43.56. The stock's 50 day moving average is C$41.35 and its two-hundred day moving average is C$39.57. The firm has a market cap of C$13.00 billion, a P/E ratio of 16.71, a PEG ratio of -4.97 and a beta of 0.18.

AltaGas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 29th will be issued a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 2.9%. The ex-dividend date is Tuesday, September 16th. AltaGas's payout ratio is presently 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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