AltaGas Ltd. (TSE:ALA – Get Rating) has earned a consensus rating of "Moderate Buy" from the thirteen brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is C$34.04.
A number of research analysts recently weighed in on ALA shares. TD Securities raised their price objective on AltaGas from C$33.00 to C$34.00 and gave the company a "buy" rating in a research report on Friday, May 27th. Haywood Securities reduced their price objective on AltaGas to C$32.50 and set an "underperform" rating for the company in a research report on Friday, July 22nd. ATB Capital raised their price objective on AltaGas from C$34.00 to C$35.00 and gave the company an "outperform" rating in a research report on Friday, May 27th. CIBC cut their target price on AltaGas from C$34.00 to C$32.00 in a research note on Thursday, July 21st. Finally, Royal Bank of Canada increased their target price on AltaGas from C$33.00 to C$34.00 and gave the company an "outperform" rating in a research note on Friday, May 27th.
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AltaGas Stock Performance
TSE:ALA opened at C$29.53 on Thursday. The business has a 50 day moving average of C$28.52 and a 200 day moving average of C$28.63. The company has a market capitalization of C$8.30 billion and a price-to-earnings ratio of 33.56. AltaGas has a 1-year low of C$24.16 and a 1-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.
AltaGas (TSE:ALA – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The company reported C$0.08 earnings per share for the quarter, missing the consensus estimate of C$0.13 by C($0.05). The company had revenue of C$3.24 billion during the quarter, compared to the consensus estimate of C$2.06 billion. On average, sell-side analysts predict that AltaGas will post 2.0286123 earnings per share for the current fiscal year.
AltaGas Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Friday, September 16th will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Thursday, September 15th. AltaGas's dividend payout ratio (DPR) is 115.31%.
Insider Buying and Selling
In related news, Director Jeremy Jason Weatherhead sold 1,230 shares of the business's stock in a transaction that occurred on Wednesday, August 10th. The shares were 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 owns 9,591 shares of the company's stock, valued at C$276,220.80.
About AltaGas
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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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