AltaGas Ltd. (TSE:ALA) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of AltaGas Ltd. (TSE:ALA) have been given a consensus rating of “Moderate Buy” by the seven analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$44.89.

ALA has been the topic of several recent research reports. CIBC lifted their price target on AltaGas from C$44.00 to C$46.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. ATB Capital lifted their target price on AltaGas from C$42.00 to C$43.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Jefferies Financial Group boosted their target price on AltaGas from C$40.00 to C$46.00 in a research note on Wednesday, July 23rd. TD Securities upped their price target on AltaGas from C$45.00 to C$48.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Finally, Scotiabank lifted their price objective on shares of AltaGas from C$46.00 to C$48.00 and gave the company an “outperform” rating in a report on Monday, October 6th.

AltaGas Stock Down 0.8%

AltaGas stock opened at C$42.35 on Tuesday. The company has a 50 day moving average of C$42.09 and a 200-day moving average of C$40.29. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26. AltaGas has a twelve month low of C$32.02 and a twelve month high of C$43.81. The stock has a market capitalization of C$12.67 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of -4.97 and a beta of 0.13.

AltaGas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 29th were given a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, September 16th. AltaGas’s payout ratio is currently 47.12%.

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.