Brokerages Set AltaGas Ltd. (TSE:ALA) Target Price at C$41.33

AltaGas Ltd. (TSE:ALA - Get Free Report) has been given a consensus rating of "Moderate Buy" by the nine brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$41.33.

ALA has been the topic of a number of research analyst reports. BMO Capital Markets lifted their target price on AltaGas from C$40.00 to C$43.00 in a research report on Friday, May 2nd. Scotiabank lifted their target price on AltaGas from C$42.00 to C$45.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. lifted their target price on AltaGas from C$39.00 to C$41.00 in a research report on Monday, April 21st. Veritas upgraded AltaGas to a "strong sell" rating in a research report on Friday, May 2nd. Finally, Royal Bank Of Canada lifted their target price on AltaGas from C$40.00 to C$43.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd.

Insider Buying and Selling

In other AltaGas news, Senior Officer Randy Warren Toone sold 92,000 shares of AltaGas stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of C$39.19, for a total value of C$3,605,480.00. Also, Senior Officer Donald Mark Jenkins sold 1,800 shares of AltaGas stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of C$39.02, for a total value of C$70,236.00. Insiders have sold a total of 107,161 shares of company stock valued at $4,210,690 over the last quarter. 0.58% of the stock is currently owned by insiders.

AltaGas Stock Performance

Shares of ALA traded up C$0.22 during midday trading on Wednesday, reaching C$38.47. 960,567 shares of the stock were exchanged, compared to its average volume of 855,021. The business's 50-day moving average price is C$38.74 and its 200 day moving average price is C$36.50. The company has a debt-to-equity ratio of 135.26, a current ratio of 1.03 and a quick ratio of 0.44. AltaGas has a twelve month low of C$29.67 and a twelve month high of C$40.98. The company has a market capitalization of C$11.45 billion, a price-to-earnings ratio of 22.30, a PEG ratio of -4.97 and a beta of 1.23.

AltaGas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 30th will be issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Monday, June 16th. AltaGas's dividend payout ratio is currently 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.