Analysts Set AltaGas Ltd. (TSE:ALA) Price Target at C$38.30

Shares of AltaGas Ltd. (TSE:ALA) have received an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$38.30.

A number of equities research analysts recently issued reports on ALA shares. Royal Bank of Canada increased their price target on AltaGas from C$37.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. ATB Capital set a C$36.00 target price on AltaGas and gave the company an “outperform” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. downgraded AltaGas from an “overweight” rating to a “neutral” rating and raised their target price for the company from C$36.00 to C$37.00 in a report on Wednesday, October 23rd. CIBC raised their price objective on AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a report on Thursday, January 9th. Finally, Scotiabank raised their price objective on AltaGas from C$38.00 to C$39.00 and gave the company an “outperform” rating in a report on Thursday, October 24th.

AltaGas Price Performance

TSE:ALA opened at C$34.74 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.85 and a debt-to-equity ratio of 115.50. The stock’s 50 day moving average price is C$33.74 and its two-hundred day moving average price is C$33.26. The firm has a market capitalization of C$10.33 billion, a price-to-earnings ratio of 23.96, a P/E/G ratio of -4.97 and a beta of 1.23. AltaGas has a 12-month low of C$26.91 and a 12-month high of C$35.77.

AltaGas (TSE:ALA) last announced its earnings results on Thursday, October 31st. The company reported C$0.14 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter last year, the company earned $0.10 EPS. On average, analysts anticipate that AltaGas will post 2.3006093 earnings per share for the current year.

AltaGas Dividend Announcement

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

Insider Transactions at AltaGas

In other news, Senior Officer Vernon Dai-Chung Yu bought 7,600 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average cost 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 business’s 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. Corporate insiders own 0.58% of the company’s stock.

AltaGas Company Profile

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.