AltaGas (TSE:ALA) Upgraded at TD Securities

TD Securities upgraded shares of AltaGas (TSE:ALA - Free Report) to a strong-buy rating in a research note released on Friday morning, Marketbeat.com reports. TD Securities currently has C$45.00 target price on the stock.

Several other equities research analysts have also issued reports on the company. National Bankshares lifted their price target on AltaGas from C$41.00 to C$44.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Scotiabank boosted their target price on AltaGas from C$42.00 to C$45.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Royal Bank Of Canada boosted their target price on AltaGas from C$40.00 to C$43.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Jefferies Financial Group boosted their target price on AltaGas from C$38.00 to C$40.00 in a research note on Wednesday, April 30th. Finally, CIBC boosted their price target on AltaGas from C$42.00 to C$43.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$41.70.

AltaGas Price Performance

Shares of TSE:ALA traded up C$0.94 on Friday, hitting C$39.53. The company's stock had a trading volume of 772,510 shares, compared to its average volume of 845,276. 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 company has a 50-day simple moving average of C$38.61 and a 200 day simple moving average of C$36.73. AltaGas has a 1 year low of C$30.51 and a 1 year high of C$40.98. The company has a market capitalization of C$11.77 billion, a PE ratio of 22.91, a PEG ratio of -4.97 and a beta of 1.23.

AltaGas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.315 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.19%. AltaGas's dividend payout ratio (DPR) is 68.98%.

Insiders Place Their Bets

In other AltaGas news, Senior Officer Donald Mark Jenkins sold 1,800 shares of the company's stock in a transaction that occurred 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. Also, Senior Officer Randy Warren Toone sold 92,000 shares of the company's 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. In the last quarter, insiders have sold 107,161 shares of company stock worth $4,210,690. Company insiders own 0.58% of the company's stock.

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.