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

AltaGas Ltd. (TSE:ALA) has been assigned an average rating of “Moderate Buy” from the ten analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is C$38.40.

ALA has been the subject of a number of research reports. Scotiabank boosted their price target on AltaGas from C$39.00 to C$40.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. CIBC boosted their price target on AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th.

Insider Activity at AltaGas

In other AltaGas news, Senior Officer Vernon Dai-Chung Yu purchased 7,600 shares of AltaGas stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of C$32.97 per share, with a total value of C$250,549.20. Also, Senior Officer Donald Mark Jenkins sold 12,352 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of C$33.90, for a total value of C$418,732.80. 0.58% of the stock is currently owned by company insiders.

AltaGas Price Performance

ALA stock opened at C$37.42 on Monday. The stock has a 50-day moving average price of C$34.48 and a two-hundred day moving average price of C$34.08. AltaGas has a 12-month low of C$28.63 and a 12-month high of C$38.02. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. The company has a market cap of C$11.14 billion, a PE ratio of 21.69, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23.

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

AltaGas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were issued a $0.298 dividend. This represents a $1.19 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Monday, December 16th. AltaGas’s dividend payout ratio is currently 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.