Brokerages Set AltaGas Ltd. (TSE:ALA) Price Target at C$41.70

AltaGas Ltd. (TSE:ALA) has been assigned an average rating of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is C$41.70.

Several equities analysts have recently commented on ALA shares. Royal Bank Of Canada boosted their price objective on AltaGas from C$40.00 to C$43.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. TD Securities upgraded AltaGas to a “strong-buy” rating and set a C$45.00 price objective on the stock in a research report on Friday, June 27th. Scotiabank boosted their price objective on AltaGas from C$42.00 to C$45.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. National Bankshares boosted their target price on AltaGas from C$41.00 to C$44.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Finally, Jefferies Financial Group boosted their target price on AltaGas from C$38.00 to C$40.00 in a research report on Wednesday, April 30th.

AltaGas Stock Performance

TSE:ALA opened at C$40.11 on Friday. The stock has a 50-day simple moving average of C$38.40 and a two-hundred day simple moving average of C$37.17. AltaGas has a 52-week low of C$30.72 and a 52-week high of C$40.98. The firm has a market capitalization of C$11.94 billion, a PE ratio of 23.25, a P/E/G ratio of -4.97 and a beta of 1.23. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03.

AltaGas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were issued a dividend of $0.315 per share. The ex-dividend date was Monday, June 16th. This represents a $1.26 dividend on an annualized basis and a yield of 3.14%. AltaGas’s dividend payout ratio is currently 68.98%.

Insiders Place Their Bets

In other AltaGas news, Senior Officer Donald Mark Jenkins sold 1,800 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of C$39.02, for a total transaction of C$70,236.00. 0.58% of the stock is currently owned by corporate insiders.

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.