AltaGas Ltd. (TSE:ALA) Given Average Recommendation of “Buy” by Analysts

Shares of AltaGas Ltd. (TSE:ALA) have been assigned a consensus rating of “Buy” from the eight analysts that are presently covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have issued ratings on the stock in the last year is C$33.75.

A number of research analysts recently issued reports on the company. National Bankshares lifted their target price on AltaGas from C$31.00 to C$33.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. TD Securities upped their target price on shares of AltaGas from C$32.00 to C$34.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. JPMorgan Chase & Co. decreased their price target on shares of AltaGas from C$33.00 to C$32.00 and set an “overweight” rating for the company in a research note on Monday, December 4th. Scotiabank increased their price objective on shares of AltaGas from C$31.00 to C$33.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Finally, Jefferies Financial Group set a C$34.00 price objective on shares of AltaGas and gave the stock a “buy” rating in a research report on Tuesday, February 27th.

AltaGas Stock Performance

Shares of ALA stock opened at C$29.92 on Monday. The firm has a 50 day moving average of C$28.62 and a two-hundred day moving average of C$27.59. The stock has a market capitalization of C$8.84 billion, a PE ratio of 13.24, a P/E/G ratio of -4.97 and a beta of 1.22. The company has a quick ratio of 0.44, a current ratio of 0.89 and a debt-to-equity ratio of 125.64. AltaGas has a 52 week low of C$21.94 and a 52 week high of C$29.95.

AltaGas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.298 per share. This is a positive change from AltaGas’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.19 annualized dividend and a dividend yield of 3.98%. AltaGas’s dividend payout ratio (DPR) is presently 52.65%.

Insider Activity

In other news, Senior Officer Randy Warren Toone sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of C$29.58, for a total transaction of C$473,200.00. In other news, Senior Officer Randy Warren Toone sold 16,000 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of C$29.58, for a total transaction of C$473,200.00. Also, Director Jeremy Jason Weatherhead sold 12,215 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of C$29.60, for a total value of C$361,564.00. In the last three months, insiders sold 33,275 shares of company stock valued at $977,991. Insiders own 0.63% 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 1.7 million customers.