AltaGas Ltd. (TSE:ALA – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is C$41.33.
Several equities research analysts have issued reports on ALA shares. Royal Bank Of Canada lifted their price objective on AltaGas from C$40.00 to C$43.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. BMO Capital Markets lifted their price objective on AltaGas from C$40.00 to C$43.00 in a report on Friday, May 2nd. Scotiabank lifted their price objective on AltaGas from C$42.00 to C$45.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Veritas upgraded AltaGas to a “strong sell” rating in a report on Friday, May 2nd. Finally, CIBC lifted their target price on AltaGas from C$42.00 to C$43.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd.
Get Our Latest Stock Analysis on ALA
Insider Transactions at AltaGas
AltaGas Price Performance
ALA stock opened at C$38.47 on Wednesday. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26. AltaGas has a 52-week low of C$29.67 and a 52-week high of C$40.98. The stock’s 50 day moving average is C$38.74 and its two-hundred day moving average is C$36.49. The company has a market capitalization of C$11.45 billion, a PE ratio of 22.30, a P/E/G ratio of -4.97 and a beta of 1.23.
AltaGas Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 30th will be given a $0.315 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.26 annualized dividend and a dividend yield of 3.28%. AltaGas’s payout ratio is 68.98%.
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.
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