Analysts Set AltaGas Ltd. (TSE:ALA) Target Price at C$33.75

AltaGas Ltd. (TSE:ALA) has been given a consensus rating of “Buy” by the eight brokerages that are presently covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have covered the stock in the last year is C$33.75.

A number of research firms have commented on ALA. Jefferies Financial Group set a C$34.00 price objective on AltaGas and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Scotiabank upped their price target on shares of AltaGas from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. TD Securities raised their price objective on shares of AltaGas from C$32.00 to C$34.00 and gave the company a “buy” rating in a research report on Monday, March 11th. National Bankshares upped their target price on shares of AltaGas from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Finally, CIBC increased their price target on shares of AltaGas from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research note on Friday, December 29th.

Insider Buying and Selling

In other AltaGas news, Director Jeremy Jason Weatherhead sold 12,215 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of C$29.60, for a total value of C$361,564.00. In other AltaGas news, Senior Officer Randy Warren Toone sold 40,000 shares of AltaGas stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of C$29.18, for a total transaction of C$1,167,200.00. Also, Director Jeremy Jason Weatherhead sold 12,215 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of C$29.60, for a total value of C$361,564.00. Insiders sold a total of 68,239 shares of company stock valued at $2,002,672 over the last three months. Company insiders own 0.57% of the company’s stock.

AltaGas Price Performance

TSE:ALA opened at C$30.22 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.89 and a debt-to-equity ratio of 125.64. The firm has a market cap of C$8.92 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of -4.97 and a beta of 1.22. AltaGas has a 12 month low of C$22.57 and a 12 month high of C$30.32. The company’s 50-day moving average price is C$29.27 and its two-hundred day moving average price is C$27.99.

AltaGas (TSE:ALA) last posted its earnings results on Friday, March 8th. The company reported C$0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of C$0.75. The company had revenue of C$3.29 billion during the quarter, compared to analysts’ expectations of C$4.11 billion. AltaGas had a net margin of 5.18% and a return on equity of 8.90%. On average, equities analysts anticipate that AltaGas will post 2.1549815 EPS for the current fiscal year.

AltaGas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 28th were paid a $0.298 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.94%. This is an increase from AltaGas’s previous quarterly dividend of $0.28. AltaGas’s dividend payout ratio is 52.65%.

About AltaGas

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 franchised, cost-of-service, rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.6 million customers.