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

Shares of AltaGas Ltd. (TSE:ALA) have been given a consensus rating of “Moderate Buy” by the eight analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is C$48.11.

A number of analysts recently weighed in on ALA shares. ATB Cormark Capital Markets increased their price objective on shares of 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 raised their price target on shares of AltaGas from C$47.00 to C$50.00 in a research note on Wednesday, December 17th. JPMorgan Chase & Co. boosted their price objective on AltaGas from C$45.00 to C$47.00 in a research report on Wednesday, December 3rd. Royal Bank Of Canada raised their target price on AltaGas from C$44.00 to C$48.00 in a research report on Friday, October 31st. Finally, Jefferies Financial Group lifted their target price on AltaGas from C$47.00 to C$48.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th.

AltaGas Stock Up 0.2%

Shares of AltaGas stock opened at C$45.18 on Monday. The stock has a market capitalization of C$14.06 billion, a price-to-earnings ratio of 18.14, a PEG ratio of -4.97 and a beta of 0.37. AltaGas has a twelve month low of C$34.18 and a twelve month high of C$45.54. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. The business’s 50 day simple moving average is C$42.01 and its 200-day simple moving average is C$42.09.

AltaGas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, December 16th. AltaGas’s dividend payout ratio is currently 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.