Analysts Set AltaGas Ltd. (TSE:ALA) PT at C$44.33

Key Points

• AltaGas Ltd. has received an average recommendation of "Moderate Buy" from nine analysts, with one sell rating, one hold rating, and seven buy ratings.
• The average 12-month price target for AltaGas shares is C$44.33, with various analysts predicting targets between C$42.00 and C$46.00.
• AltaGas recently announced a quarterly dividend of $0.315 per share, equating to an annualized yield of 3.1%, with a payout ratio of 68.98%.

Shares of AltaGas Ltd. (TSE:ALA - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is C$44.33.

A number of brokerages recently issued reports on ALA. TD Securities raised their price target on AltaGas from C$45.00 to C$48.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. CIBC raised their target price on shares of AltaGas from C$42.00 to C$43.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Veritas upgraded shares of AltaGas to a "strong sell" rating in a report on Friday, May 2nd. BMO Capital Markets raised their price objective on shares of AltaGas from C$40.00 to C$43.00 in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. boosted their target price on AltaGas from C$39.00 to C$41.00 in a research report on Monday, April 21st.

AltaGas Trading Down 0.1%

Shares of AltaGas stock traded down C$0.03 on Thursday, reaching C$41.27. The company had a trading volume of 298,216 shares, compared to its average volume of 801,638. The firm has a market cap of C$12.29 billion, a price-to-earnings ratio of 23.92, a P/E/G ratio of -4.97 and a beta of 1.23. The company has a debt-to-equity ratio of 135.26, a current ratio of 1.03 and a quick ratio of 0.44. The firm's 50-day moving average price is C$39.41 and its two-hundred day moving average price is C$38.02. AltaGas has a 1 year low of C$32.02 and a 1 year high of C$42.03.

AltaGas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 16th will be given a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 3.1%. AltaGas's payout ratio is presently 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.