AltaGas Ltd. (TSE:ALA) Given Consensus Rating of “Buy” by Brokerages

AltaGas Ltd. (TSE:ALA) has received a consensus recommendation of “Buy” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is C$32.38.

Several brokerages have issued reports on ALA. Scotiabank set a C$31.00 target price on AltaGas and gave the company an “outperform” rating in a report on Monday, September 18th. ATB Capital boosted their price objective on AltaGas from C$34.00 to C$35.00 in a report on Friday, September 1st. National Bankshares decreased their price target on shares of AltaGas from C$32.00 to C$31.00 and set an “outperform” rating for the company in a research report on Thursday, October 19th. Royal Bank of Canada raised their target price on shares of AltaGas from C$31.00 to C$32.00 and gave the company an “outperform” rating in a report on Friday, September 1st. Finally, TD Securities lowered their price objective on AltaGas from C$34.00 to C$32.00 and set a “buy” rating for the company in a research report on Monday, July 31st.

Insiders Place Their Bets

In other news, Senior Officer Bertram Grant Bradley sold 5,000 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of C$27.26, for a total transaction of C$136,300.00. In related news, Senior Officer Bertram Grant Bradley sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of C$27.26, for a total transaction of C$136,300.00. Also, Director Aaron Bishop sold 13,148 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of C$27.51, for a total transaction of C$361,701.48. Following the completion of the sale, the director now directly owns 509 shares of the company’s stock, valued at approximately C$14,002.59. Insiders sold 72,028 shares of company stock valued at $1,948,451 over the last 90 days. 0.64% of the stock is currently owned by company insiders.

AltaGas Trading Up 1.6 %

Shares of TSE:ALA opened at C$27.95 on Tuesday. The company has a debt-to-equity ratio of 114.73, a current ratio of 0.82 and a quick ratio of 0.44. AltaGas has a 1 year low of C$21.25 and a 1 year high of C$28.10. The firm has a market capitalization of C$7.88 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of -4.97 and a beta of 1.18. The business’s 50 day moving average price is C$26.45 and its 200-day moving average price is C$25.32.

AltaGas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Thursday, December 14th. AltaGas’s dividend payout ratio is presently 54.63%.

AltaGas Company Profile

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.