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

Shares of AltaGas Ltd. (TSE:ALA) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$48.11.

ALA has been the subject of several research reports. Scotiabank raised their price objective on shares of AltaGas from C$48.00 to C$50.00 in a research report on Tuesday, December 16th. Canadian Imperial Bank of Commerce raised their target price on shares of AltaGas from C$47.00 to C$50.00 in a report on Wednesday, December 17th. Jefferies Financial Group upped their price target on AltaGas from C$47.00 to C$48.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Royal Bank Of Canada lifted their target price on AltaGas from C$44.00 to C$48.00 in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. boosted their target price on AltaGas from C$45.00 to C$47.00 in a research report on Wednesday, December 3rd.

AltaGas Trading Up 0.2%

Shares of AltaGas stock opened at C$45.18 on Monday. The business has a fifty day simple moving average of C$42.01 and a 200-day simple moving average of C$42.09. AltaGas has a fifty-two week low of C$34.18 and a fifty-two week high of C$45.54. The firm has a market cap of C$14.06 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of -4.97 and a beta of 0.37. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.315 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $1.26 dividend on an annualized basis and a yield of 2.8%. AltaGas’s dividend payout ratio is currently 49.90%.

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. Natural gas is sold and purchased for both commercial and industrial users.