Shares of AltaGas Ltd. (TSE:ALA – Get Rating) have earned a consensus rating of "Moderate Buy" from the thirteen research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is C$34.04.

Several equities analysts have recently commented on ALA shares. ATB Capital upped their target price on AltaGas from C$34.00 to C$35.00 and gave the company an "outperform" rating in a report on Friday, May 27th. Scotiabank increased their price objective on AltaGas from C$32.00 to C$33.00 in a report on Friday, July 29th. CIBC decreased their price objective on AltaGas from C$34.00 to C$32.00 in a report on Thursday, July 21st. Canaccord Genuity Group increased their price objective on AltaGas from C$35.00 to C$36.00 in a report on Friday, May 27th. Finally, Raymond James increased their price objective on AltaGas from C$34.50 to C$35.50 and gave the stock an "outperform" rating in a report on Wednesday, July 6th.

AltaGas Stock Up 0.4 %

TSE:ALA opened at C$28.84 on Thursday. The firm has a market capitalization of C$8.10 billion and a PE ratio of 32.77. The stock has a 50 day moving average of C$28.65 and a 200-day moving average of C$28.65. AltaGas has a 52 week low of C$24.16 and a 52 week high of C$31.16. The company has a current ratio of 1.07, a quick ratio of 0.53 and a debt-to-equity ratio of 105.98.

AltaGas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Friday, September 16th will be given a $0.265 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.06 dividend on an annualized basis and a yield of 3.68%. AltaGas's dividend payout ratio (DPR) is 115.31%.

Insiders Place Their Bets

In other AltaGas news, Director Jeremy Jason Weatherhead sold 1,230 shares of the business's stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of C$28.80, for a total transaction of C$35,424.00. Following the sale, the director now directly owns 9,591 shares of the company's stock, valued at approximately C$276,220.80.

About AltaGas

(Get Rating)

AltaGas Ltd. operates as an energy infrastructure company in North America. The company operates through Utilities and Midstream segments. The Utilities segment owns and operates rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.7 million customers.

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