AltaGas Ltd. (TSE:ALA) Receives C$38.30 Average PT from Analysts

AltaGas Ltd. (TSE:ALA) has been assigned an average rating of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is C$38.30.

A number of equities research analysts recently commented on the company. CIBC lifted their price objective on AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th. Scotiabank lifted their price objective on AltaGas from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Royal Bank of Canada lifted their price objective on AltaGas from C$37.00 to C$40.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. ATB Capital set a C$36.00 price objective on AltaGas and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Finally, Jefferies Financial Group lifted their price objective on AltaGas from C$37.00 to C$39.00 and gave the stock a “buy” rating in a research note on Monday, September 30th.

AltaGas Stock Down 0.5 %

TSE ALA opened at C$34.74 on Friday. The stock has a fifty day moving average of C$33.74 and a 200-day moving average of C$33.26. The stock has a market capitalization of C$10.33 billion, a P/E ratio of 23.96, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. AltaGas has a 52 week low of C$26.91 and a 52 week high of C$35.77. The company has a debt-to-equity ratio of 115.50, a quick ratio of 0.44 and a current ratio of 0.85.

AltaGas (TSE:ALA) last released its earnings results on Thursday, October 31st. The company reported C$0.14 EPS for the quarter, beating the consensus estimate of C$0.10 by C$0.04. AltaGas had a return on equity of 5.78% and a net margin of 3.58%. During the same period in the previous year, the company posted $0.10 earnings per share. On average, equities research analysts forecast that AltaGas will post 2.3006093 EPS for the current year.

AltaGas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were issued a $0.298 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.43%. AltaGas’s dividend payout ratio (DPR) is 82.07%.

Insider Activity

In other news, Senior Officer Donald Mark Jenkins sold 12,352 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of C$33.90, for a total value of C$418,732.80. Also, Senior Officer Vernon Dai-Chung Yu bought 7,600 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average cost of C$32.97 per share, for a total transaction of C$250,549.20. 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.