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

Shares of AltaGas Ltd. (TSE:ALA) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is C$39.11.

ALA has been the topic of several research reports. Scotiabank boosted their price objective on shares of AltaGas from C$40.00 to C$42.00 in a research note on Monday, March 10th. CIBC boosted their price objective on shares of AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th.

AltaGas Price Performance

Shares of TSE ALA opened at C$38.03 on Monday. AltaGas has a 1 year low of C$28.76 and a 1 year high of C$38.61. The company has a debt-to-equity ratio of 135.26, a current ratio of 1.03 and a quick ratio of 0.44. The company’s 50-day moving average is C$34.96 and its 200 day moving average is C$34.25. The stock has a market capitalization of C$11.32 billion, a P/E ratio of 22.04, a P/E/G ratio of -4.97 and a beta of 1.23.

AltaGas (TSE:ALA) last announced its quarterly earnings results on Friday, March 7th. The company reported C$0.76 earnings per share (EPS) for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%. On average, sell-side analysts expect that AltaGas will post 2.3006093 earnings per share for the current year.

AltaGas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be paid a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Monday, March 17th. This is an increase from AltaGas’s previous quarterly dividend of $0.30. AltaGas’s dividend payout ratio is currently 68.98%.

Insider Transactions at AltaGas

In other news, Senior Officer Donald Mark Jenkins sold 12,352 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of C$33.90, for a total value of C$418,732.80. Also, Senior Officer Corine Renae Knight Bushfield sold 144,064 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of C$38.00, for a total transaction of C$5,474,432.00. Over the last 90 days, insiders have sold 181,616 shares of company stock worth $6,859,585. Corporate insiders own 0.58% of the company’s stock.

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.