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

AltaGas Ltd. (TSE:ALA) has earned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$48.11.

Several equities research analysts have recently commented on ALA shares. JPMorgan Chase & Co. raised their target price on shares of AltaGas from C$45.00 to C$47.00 in a research report on Wednesday, December 3rd. National Bank Financial raised their price objective on shares of AltaGas from C$46.00 to C$50.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. ATB Cormark Capital Markets upped their target price on AltaGas from C$48.00 to C$49.00 and gave the stock an “outperform” rating in a report on Tuesday, December 23rd. Canadian Imperial Bank of Commerce increased their target price on AltaGas from C$47.00 to C$50.00 in a research report on Wednesday, December 17th. Finally, Scotiabank lifted their price target on AltaGas from C$48.00 to C$50.00 in a research report on Tuesday, December 16th.

AltaGas Price Performance

ALA opened at C$46.36 on Monday. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03. The stock has a market capitalization of C$14.42 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of -4.97 and a beta of 0.37. The stock’s 50 day moving average price is C$42.46 and its 200-day moving average price is C$42.24. AltaGas has a 52-week low of C$34.82 and a 52-week high of C$46.64.

AltaGas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Tuesday, December 16th. AltaGas’s payout ratio is 49.90%.

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. Natural gas is sold and purchased for both commercial and industrial users.