Altagas Ltd (ALA) Receives Average Recommendation of “Buy” from Brokerages
Altagas Ltd (TSE:ALA) has earned a consensus recommendation of “Buy” from the eleven ratings firms that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is C$36.00.
Several brokerages have recently issued reports on ALA. Raymond James Financial, Inc. reissued a “market perform” rating and issued a C$32.00 target price on shares of Altagas in a research report on Thursday, April 27th. Scotiabank reissued an “outperform” rating and issued a C$36.00 target price on shares of Altagas in a research report on Thursday, April 27th.
Shares of Altagas (TSE:ALA) traded down 0.76% during midday trading on Friday, reaching $29.24. The company’s stock had a trading volume of 267,920 shares. Altagas has a 52-week low of $28.95 and a 52-week high of $35.55. The stock has a 50-day moving average price of $29.77 and a 200-day moving average price of $30.94. The stock has a market cap of $4.96 billion and a price-to-earnings ratio of 36.05.
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, July 25th will be given a dividend of $0.175 per share. This represents a $2.10 dividend on an annualized basis and a yield of 7.09%. The ex-dividend date of this dividend is Friday, July 21st. This is a positive change from Altagas’s previous monthly dividend of $0.16.
In related news, insider Kent Eugene Stout sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of C$31.60, for a total transaction of C$31,600.00.
Altagas Company Profile
AltaGas Ltd is a Canada-based energy infrastructure company. The Company operates through three segments: Gas, Power and Utilities. The Gas segment transacts approximately two billion cubic feet per day (Bcf/d) of natural gas and includes natural gas gathering and processing, natural gas liquids extraction and separation, transmission, storage and natural gas marketing, as well as its interest in Petrogas Energy Corp.
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