AltaGas Ltd. (TSE:ALA) Given Consensus Recommendation of "Moderate Buy" by Analysts

AltaGas Ltd. (TSE:ALA - Get Free Report) has earned an average rating of "Moderate Buy" from the ten brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is C$41.70.

ALA has been the topic of a number of research reports. Jefferies Financial Group increased their price target on AltaGas from C$38.00 to C$40.00 in a research report on Wednesday, April 30th. TD Securities upgraded AltaGas to a "strong-buy" rating and set a C$45.00 price target on the stock in a research report on Friday, June 27th. JPMorgan Chase & Co. raised their price objective on AltaGas from C$39.00 to C$41.00 in a research note on Monday, April 21st. Veritas raised AltaGas to a "strong sell" rating in a research note on Friday, May 2nd. Finally, Royal Bank Of Canada raised their price objective on AltaGas from C$40.00 to C$43.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd.

AltaGas Stock Down 0.1%

Shares of TSE ALA traded down C$0.06 on Friday, hitting C$40.05. The company had a trading volume of 960,107 shares, compared to its average volume of 823,253. AltaGas has a 12-month low of C$30.72 and a 12-month high of C$40.98. The business has a 50 day moving average of C$38.40 and a two-hundred day moving average of C$37.17. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26. The firm has a market capitalization of C$11.92 billion, a P/E ratio of 23.21, a PEG ratio of -4.97 and a beta of 1.23.

AltaGas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 30th were given a $0.315 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.26 annualized dividend and a dividend yield of 3.15%. AltaGas's dividend payout ratio (DPR) is presently 68.98%.

Insider Activity at AltaGas

In related news, Senior Officer Donald Mark Jenkins sold 1,800 shares of AltaGas stock in a transaction on Monday, May 5th. The stock was sold at an average price of C$39.02, for a total transaction of C$70,236.00. 0.58% of the stock is currently owned by company insiders.

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.