AltaGas Ltd. (TSE:ALA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of AltaGas Ltd. (TSE:ALA) have been assigned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is C$39.56.

Several brokerages have weighed in on ALA. JPMorgan Chase & Co. lifted their price target on shares of AltaGas from C$39.00 to C$41.00 in a report on Monday, April 21st. CIBC upped their target price on shares of AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a report on Thursday, January 9th. Finally, Scotiabank raised their price target on AltaGas from C$40.00 to C$42.00 in a report on Monday, March 10th.

AltaGas Price Performance

Shares of AltaGas stock opened at C$40.41 on Tuesday. The stock has a market cap of C$12.03 billion, a P/E ratio of 23.42, a P/E/G 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. The stock’s fifty day moving average is C$37.89 and its 200 day moving average is C$35.35. AltaGas has a one year low of C$29.51 and a one year high of C$40.53.

AltaGas (TSE:ALA) last posted its quarterly earnings data on Friday, March 7th. The company reported C$0.76 EPS for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. Sell-side analysts anticipate that AltaGas will post 2.3006093 earnings per share for the current year.

AltaGas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were given a $0.315 dividend. This is an increase from AltaGas’s previous quarterly dividend of $0.30. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend was Monday, March 17th. AltaGas’s payout ratio is currently 68.98%.

Insider Activity at AltaGas

In other news, Senior Officer Randy Warren Toone sold 92,000 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of C$39.19, for a total transaction of C$3,605,480.00. Also, Director Peter James Ledig sold 25,200 shares of AltaGas stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of C$38.35, for a total value of C$966,420.00. Over the last three months, insiders sold 398,414 shares of company stock valued at $15,302,227. Insiders own 0.58% of the company’s stock.

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.