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

Shares of AltaGas Ltd. (TSE:ALA) have received a consensus rating of “Buy” from the ten research firms that are currently covering the stock, Marketbeat reports. Ten analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have covered the stock in the last year is C$37.90.

Several analysts recently issued reports on ALA shares. Royal Bank of Canada upped their price objective on shares of AltaGas from C$37.00 to C$40.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Jefferies Financial Group increased their price target on AltaGas from C$37.00 to C$39.00 and gave the company a “buy” rating in a report on Monday, September 30th. CIBC lifted their price objective on AltaGas from C$38.00 to C$40.00 in a research report on Monday, July 15th. Scotiabank raised their target price on AltaGas from C$36.00 to C$38.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Finally, BMO Capital Markets boosted their price target on shares of AltaGas from C$37.00 to C$40.00 in a research report on Thursday, September 5th.

AltaGas Price Performance

TSE:ALA opened at C$33.89 on Friday. The stock has a 50 day moving average of C$33.68 and a two-hundred day moving average of C$31.46. AltaGas has a 12 month low of C$24.67 and a 12 month high of C$35.49. The firm has a market cap of C$10.08 billion, a P/E ratio of 23.37, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The company has a current ratio of 0.85, a quick ratio of 0.44 and a debt-to-equity ratio of 115.50.

AltaGas (TSE:ALA) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.14 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.12 by C$0.02. The company had revenue of C$2.78 billion for the quarter, compared to analyst estimates of C$2.54 billion. AltaGas had a return on equity of 5.78% and a net margin of 3.58%. On average, analysts expect that AltaGas will post 2.3006093 earnings per share for the current fiscal year.

AltaGas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were paid a dividend of $0.298 per share. This represents a $1.19 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend was Monday, September 16th. AltaGas’s dividend payout ratio (DPR) is presently 82.07%.

Insider Activity

In other AltaGas news, Senior Officer Randy Warren Toone sold 3,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of C$33.82, for a total transaction of C$101,460.00. In other AltaGas news, Senior Officer Randy Warren Toone sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of C$33.82, for a total transaction of C$101,460.00. Also, Senior Officer Bertram Grant Bradley sold 7,500 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of C$33.61, for a total transaction of C$252,075.00. In the last three months, insiders have sold 33,320 shares of company stock valued at $1,125,051. Company insiders own 0.58% of the company’s stock.

About AltaGas

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.