AltaGas Ltd. (TSE:ALA - Get Free Report) has received an average recommendation of "Moderate Buy" from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$38.10.
A number of analysts recently commented on ALA shares. ATB Capital set a C$36.00 price objective on AltaGas and gave the stock an "outperform" rating in a research report on Tuesday, September 24th. National Bankshares lifted their price target on AltaGas from C$36.00 to C$39.00 and gave the company an "outperform" rating in a report on Friday, August 23rd. Royal Bank of Canada lifted their price target on AltaGas from C$37.00 to C$40.00 and gave the company an "outperform" rating in a report on Thursday, October 3rd. Scotiabank lifted their price target on AltaGas from C$38.00 to C$39.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Finally, BMO Capital Markets lifted their price target on AltaGas from C$37.00 to C$40.00 in a report on Thursday, September 5th.
Check Out Our Latest Research Report on ALA
In related news, Senior Officer Randy Warren Toone sold 3,000 shares of the business's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of C$35.32, for a total transaction of C$105,960.00. In other AltaGas news, Director Aaron Bishop sold 19,820 shares of the company's stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of C$33.58, for a total value of C$665,555.60. Also, Senior Officer Randy Warren Toone sold 3,000 shares of the company's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of C$35.32, for a total value of C$105,960.00. In the last ninety days, insiders have sold 33,320 shares of company stock valued at $1,125,051. Corporate insiders own 0.58% of the company's stock.
AltaGas stock opened at C$33.18 on Tuesday. The stock has a market cap of C$9.87 billion, a PE ratio of 22.88, a P/E/G ratio of -4.97 and a beta of 1.23. The stock has a 50-day moving average price of C$34.08 and a 200 day moving average price of C$31.98. AltaGas has a 52 week low of C$26.10 and a 52 week high of C$35.77. The company has a current ratio of 0.85, a quick ratio of 0.44 and a debt-to-equity ratio of 115.50.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.298 dividend. This represents a $1.19 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, December 16th. AltaGas's dividend payout ratio is currently 82.07%.
AltaGas Ltd. operates as an energy infrastructure company in North America. The company operates through Utilities and Midstream segments. The Utilities segment owns and operates franchised, cost-of-service, rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.6 million customers.
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