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

AltaGas Ltd. (TSE:ALA) has received an average recommendation of “Moderate Buy” from the seven analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is C$44.89.

ALA has been the topic of a number of recent analyst reports. Royal Bank Of Canada boosted their price target on shares of AltaGas from C$43.00 to C$44.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Scotiabank increased their target price on AltaGas from C$46.00 to C$48.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. TD Securities lifted their price target on AltaGas from C$45.00 to C$48.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. CIBC increased their price objective on AltaGas from C$44.00 to C$46.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Finally, Jefferies Financial Group raised their target price on AltaGas from C$40.00 to C$46.00 in a report on Wednesday, July 23rd.

AltaGas Stock Performance

TSE:ALA opened at C$42.69 on Tuesday. The firm has a market cap of C$12.77 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of -4.97 and a beta of 0.13. 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 1-year low of C$32.02 and a 1-year high of C$43.81. The firm’s fifty day moving average price is C$42.08 and its 200 day moving average price is C$40.23.

AltaGas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 29th were issued a dividend of $0.315 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.26 dividend on an annualized basis and a yield of 3.0%. AltaGas’s payout ratio is currently 47.12%.

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.