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

AltaGas Ltd. (TSE:ALA - Get Free Report) has received a consensus rating of "Moderate Buy" from the nine research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is C$41.33.

Several research firms recently weighed in on ALA. JPMorgan Chase & Co. increased their target price on AltaGas from C$39.00 to C$41.00 in a research report on Monday, April 21st. BMO Capital Markets raised their price objective on AltaGas from C$40.00 to C$43.00 in a report on Friday, May 2nd. Scotiabank raised their price objective on AltaGas from C$42.00 to C$45.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. National Bankshares raised their price objective on AltaGas from C$41.00 to C$44.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, CIBC raised their price objective on AltaGas from C$42.00 to C$43.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd.

Insider Activity

In other news, Senior Officer Donald Mark Jenkins sold 1,800 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of C$39.02, for a total value of C$70,236.00. Also, Senior Officer Randy Warren Toone sold 92,000 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of C$39.19, for a total value of C$3,605,480.00. Over the last quarter, insiders sold 122,361 shares of company stock worth $4,794,370. 0.58% of the stock is currently owned by corporate insiders.

AltaGas Trading Down 0.2%

TSE ALA traded down C$0.06 during trading hours on Wednesday, hitting C$38.25. 184,970 shares of the company's stock were exchanged, compared to its average volume of 854,127. The business's 50 day moving average is C$38.73 and its 200-day moving average is C$36.46. AltaGas has a 12-month low of C$29.67 and a 12-month high of C$40.98. The firm has a market capitalization of C$11.39 billion, a P/E ratio of 22.17, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03.

AltaGas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 30th will be paid a $0.315 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.29%. AltaGas's dividend payout ratio (DPR) is currently 68.98%.

About AltaGas

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.