AltaGas Ltd. (TSE:ALA) Receives C$39.11 Consensus Target Price from Analysts

AltaGas Ltd. (TSE:ALA) has received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is C$39.11.

Several equities analysts recently weighed in on ALA shares. Scotiabank raised their price objective on AltaGas from C$40.00 to C$42.00 in a research note on Monday, March 10th. CIBC raised their price objective on AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research note on Thursday, January 9th.

Insider Transactions at AltaGas

In other news, Senior Officer Corine Renae Knight Bushfield sold 144,064 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of C$38.00, for a total transaction of C$5,474,432.00. Also, Director Derek Watson Evans acquired 19,239 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were acquired at an average price of C$38.98 per share, for a total transaction of C$749,936.22. Insiders have sold 410,766 shares of company stock worth $15,720,960 over the last quarter. 0.58% of the stock is currently owned by insiders.

AltaGas Stock Performance

TSE ALA opened at C$37.81 on Friday. AltaGas has a 1-year low of C$28.86 and a 1-year high of C$40.17. The company has a market capitalization of C$11.26 billion, a P/E ratio of 21.92, a PEG ratio of -4.97 and a beta of 1.23. The business has a 50 day moving average price of C$36.69 and a 200 day moving average price of C$34.84. 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 (TSE:ALA) last released its quarterly earnings data on Friday, March 7th. The company reported C$0.76 earnings per share for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. Sell-side analysts expect that AltaGas will post 2.3006093 EPS for the current fiscal year.

AltaGas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were issued a dividend of $0.315 per share. This is a boost from AltaGas’s previous quarterly dividend of $0.30. The ex-dividend date was Monday, March 17th. This represents a $1.26 annualized dividend and a dividend yield of 3.33%. AltaGas’s dividend payout ratio (DPR) is 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.