Analysts Set AltaGas Ltd. (TSE:ALA) PT at C$38.40

AltaGas Ltd. (TSE:ALA) has been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the company, Marketbeat Ratings 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 twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$39.11.

ALA has been the topic of several research analyst reports. Scotiabank lifted their price target on AltaGas from C$40.00 to C$42.00 in a research report on Monday. CIBC boosted their price objective on AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a report on Thursday, January 9th.

AltaGas Stock Down 0.5 %

Shares of AltaGas stock opened at C$38.17 on Monday. 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$28.63 and a 1-year high of C$38.61. The business’s fifty day moving average price is C$34.77 and its two-hundred day moving average price is C$34.18. The company has a market capitalization of C$11.36 billion, a P/E ratio of 22.12, a PEG ratio of -4.97 and a beta of 1.23.

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

AltaGas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a $0.298 dividend. This represents a $1.19 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date was Monday, December 16th. AltaGas’s dividend payout ratio (DPR) is presently 68.98%.

Insider Buying and Selling at AltaGas

In related news, Director Peter James Ledig sold 25,200 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of C$38.35, for a total transaction of C$966,420.00. Also, Senior Officer Donald Mark Jenkins sold 12,352 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of C$33.90, for a total transaction of C$418,732.80. Corporate 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.