Altagas Ltd (ALA) Receives Average Rating of “Hold” from Analysts

Altagas Ltd (TSE:ALA) has been given a consensus rating of “Hold” by the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is C$33.29.

ALA has been the subject of several analyst reports. Beacon Securities reissued a “buy” rating on shares of Altagas in a research note on Thursday, September 21st. BMO Capital Markets reissued a “market perform” rating and issued a C$32.00 price target on shares of Altagas in a research note on Friday, October 20th. CIBC dropped their price target on shares of Altagas from C$38.00 to C$35.00 in a research note on Friday, October 20th. Scotiabank dropped their price target on shares of Altagas from C$36.00 to C$34.00 and set an “outperform” rating for the company in a research note on Friday, October 20th. Finally, Raymond James Financial dropped their price target on shares of Altagas from C$32.00 to C$30.00 and set a “market perform” rating for the company in a research note on Monday, October 23rd.

Altagas (TSE ALA) traded down C$0.09 during trading on Friday, hitting C$29.00. 306,163 shares of the stock traded hands, compared to its average volume of 527,465. Altagas has a twelve month low of C$26.87 and a twelve month high of C$34.77. The stock has a market cap of $5,060.00, a PE ratio of 61.70 and a beta of 0.47.

The business also recently disclosed a monthly dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, January 25th will be given a dividend of $0.183 per share. The ex-dividend date of this dividend is Wednesday, January 24th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 7.57%. Altagas’s payout ratio is currently 446.81%.

In other Altagas news, Director David Wallace Cornhill sold 4,000 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of C$29.01, for a total transaction of C$116,040.00. Also, insider Peter Lauren Karl sold 2,300 shares of the stock in a transaction that occurred on Thursday, November 23rd. The stock was sold at an average price of C$29.66, for a total transaction of C$68,218.00. Insiders have sold a total of 8,300 shares of company stock valued at $242,658 in the last ninety days.

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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.

Analyst Recommendations for Altagas (TSE:ALA)

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