AltaGas Ltd. (TSE:ALA) Receives C$48.11 Average PT from Analysts

Shares of AltaGas Ltd. (TSE:ALA) have received an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is C$48.11.

ALA has been the subject of a number of recent research reports. Jefferies Financial Group increased their price target on shares of AltaGas from C$47.00 to C$48.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Scotiabank lifted their price target on shares of AltaGas from C$48.00 to C$50.00 in a research report on Tuesday, December 16th. Canadian Imperial Bank of Commerce boosted their price objective on shares of AltaGas from C$47.00 to C$50.00 in a research report on Wednesday, December 17th. Royal Bank Of Canada increased their target price on AltaGas from C$44.00 to C$48.00 in a report on Friday, October 31st. Finally, National Bank Financial increased their price objective on AltaGas from C$46.00 to C$50.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th.

AltaGas Price Performance

Shares of TSE ALA opened at C$45.50 on Monday. The stock has a market cap of C$14.16 billion, a P/E ratio of 18.27, a P/E/G ratio of -4.97 and a beta of 0.37. AltaGas has a twelve month low of C$34.33 and a twelve month high of C$45.87. The stock has a 50 day moving average of C$42.27 and a two-hundred day moving average of C$42.17. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26.

AltaGas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were paid a dividend of $0.315 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $1.26 annualized dividend and a dividend yield of 2.8%. AltaGas’s dividend payout ratio is presently 49.90%.

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