Analysts Set AltaGas Ltd. (TSE:ALA) Price Target at C$41.33

AltaGas Ltd. (TSE:ALAGet 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

In related news, Director Derek Watson Evans acquired 19,239 shares of AltaGas stock in a transaction that occurred on Wednesday, March 26th. The stock was acquired at an average price of C$38.98 per share, for a total transaction of C$749,936.22. Also, Director Peter James Ledig sold 13,361 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of C$40.04, for a total value of C$534,974.44. In the last quarter, insiders sold 107,161 shares of company stock worth $4,210,690. 0.58% of the stock is currently owned by corporate insiders.

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

(Get Free Report

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.

Read More

Analyst Recommendations for AltaGas (TSE:ALA)

Receive News & Ratings for AltaGas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AltaGas and related companies with MarketBeat.com's FREE daily email newsletter.