AltaGas Ltd. (TSE:ALA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of AltaGas Ltd. (TSE:ALA) have been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is C$48.11.

A number of research analysts have recently issued reports on ALA shares. JPMorgan Chase & Co. lifted their price target on AltaGas from C$45.00 to C$47.00 in a report on Wednesday, December 3rd. Royal Bank Of Canada lifted their target price on AltaGas from C$44.00 to C$48.00 in a research note on Friday, October 31st. ATB Cormark Capital Markets increased their price target on shares of AltaGas from C$48.00 to C$49.00 and gave the company an “outperform” rating in a research report on Tuesday, December 23rd. Canadian Imperial Bank of Commerce lifted their price objective on shares of AltaGas from C$47.00 to C$50.00 in a research report on Wednesday, December 17th. Finally, National Bank Financial boosted their price objective on shares of AltaGas from C$46.00 to C$50.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th.

AltaGas Price Performance

Shares of ALA opened at C$46.36 on Monday. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03. The company has a 50 day moving average price of C$42.46 and a 200-day moving average price of C$42.23. AltaGas has a fifty-two week low of C$34.82 and a fifty-two week high of C$46.64. The stock has a market capitalization of C$14.42 billion, a PE ratio of 18.62, a PEG ratio of -4.97 and a beta of 0.37.

AltaGas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were given 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 dividend yield of 2.7%. AltaGas’s dividend payout ratio is presently 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.