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

Shares of AltaGas Ltd. (TSE:ALA) have earned a consensus recommendation of “Buy” from the ten research firms that are covering the company, MarketBeat reports. Ten research analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is C$37.40.

A number of equities research analysts have recently issued reports on the company. ATB Capital boosted their price objective on AltaGas from C$35.00 to C$36.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. BMO Capital Markets upped their price objective on AltaGas from C$37.00 to C$40.00 in a report on Thursday, September 5th. Scotiabank increased their price objective on AltaGas from C$36.00 to C$38.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Royal Bank of Canada boosted their target price on shares of AltaGas from C$34.00 to C$37.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group raised their price target on shares of AltaGas from C$34.00 to C$37.00 and gave the stock a “buy” rating in a research report on Monday, July 29th.

AltaGas Stock Down 4.2 %

ALA opened at C$32.81 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.44 and a debt-to-equity ratio of 115.50. The stock’s fifty day simple moving average is C$33.11 and its 200 day simple moving average is C$31.09. AltaGas has a 1-year low of C$24.67 and a 1-year high of C$35.49. The stock has a market cap of C$9.76 billion, a PE ratio of 22.63, a price-to-earnings-growth ratio of -4.97 and a beta of 1.24.

AltaGas (TSE:ALA) last posted its earnings results on Thursday, August 1st. The company reported C$0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.12 by C$0.02. AltaGas had a net margin of 3.58% and a return on equity of 5.78%. The company had revenue of C$2.78 billion during the quarter, compared to analysts’ expectations of C$2.54 billion.

AltaGas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 27th will be issued a $0.298 dividend. This represents a $1.19 annualized dividend and a yield of 3.63%. The ex-dividend date is Monday, September 16th. AltaGas’s dividend payout ratio is currently 82.07%.

Insider Transactions at AltaGas

In related news, Director Aaron Bishop sold 19,820 shares of AltaGas stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of C$33.58, for a total value of C$665,555.60. In related news, Director Aaron Bishop sold 19,820 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of C$33.58, for a total transaction of C$665,555.60. Also, Senior Officer Bertram Grant Bradley sold 7,500 shares of AltaGas stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of C$33.61, for a total value of C$252,075.00. In the last 90 days, insiders sold 33,320 shares of company stock valued at $1,125,051. Company insiders own 0.58% of the company’s stock.

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 1.6 million customers.