AltaGas Ltd. (TSE:ALA – Get Rating) has been assigned an average recommendation of "Moderate Buy" from the thirteen research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is C$33.92.
ALA has been the subject of several recent analyst reports. ATB Capital boosted their price objective on AltaGas from C$34.00 to C$35.00 and gave the stock an "outperform" rating in a report on Friday, May 27th. Scotiabank boosted their price objective on AltaGas from C$32.00 to C$33.00 in a report on Friday, July 29th. Raymond James boosted 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. Royal Bank of Canada boosted their price objective on AltaGas from C$33.00 to C$34.00 and gave the stock an "outperform" rating in a report on Friday, May 27th. Finally, CIBC dropped their target price on AltaGas from C$34.00 to C$32.00 in a research report on Thursday, July 21st.
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Insider Buying and Selling at AltaGas
In related news, Director Jeremy Jason Weatherhead sold 1,230 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of C$28.80, for a total value of C$35,424.00. Following the completion of the transaction, the director now directly owns 9,591 shares in the company, valued at C$276,220.80. In other AltaGas news, Director Jeremy Jason Weatherhead sold 1,230 shares of the firm's stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of C$28.80, for a total transaction of C$35,424.00. Following the transaction, the director now owns 9,591 shares of the company's stock, valued at C$276,220.80. Also, Director Aaron Bishop sold 10,500 shares of AltaGas stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of C$30.28, for a total value of C$317,948.40. Following the completion of the sale, the director now directly owns 764 shares in the company, valued at approximately C$23,134.53. Insiders sold 191,792 shares of company stock valued at $5,815,373 over the last quarter.
AltaGas Trading Up 0.3 %
TSE ALA opened at C$29.42 on Friday. The stock has a market capitalization of C$8.27 billion and a price-to-earnings ratio of 33.43. AltaGas has a one year low of C$24.16 and a one year high of C$31.16. The company has a debt-to-equity ratio of 105.98, a current ratio of 1.07 and a quick ratio of 0.53. The business's fifty day moving average is C$27.67 and its 200-day moving average is C$28.43.
AltaGas (TSE:ALA – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The company reported C$0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C$0.13 by C($0.05). The company had revenue of C$3.24 billion during the quarter, compared to analyst estimates of C$2.06 billion. Equities research analysts predict that AltaGas will post 2.0299999 EPS for the current year.
AltaGas Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Friday, September 16th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.06 annualized dividend and a dividend yield of 3.60%. AltaGas's dividend payout ratio (DPR) is presently 115.31%.
AltaGas Company Profile
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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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