Shares of AltaGas Ltd. (TSE:ALA) have earned a consensus recommendation of “Buy” from the seventeen analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is C$27.20.
A number of equities analysts have recently weighed in on the company. Canaccord Genuity upped their target price on AltaGas from C$25.00 to C$27.00 and gave the company a “hold” rating in a report on Thursday, May 20th. National Bankshares upped their target price on AltaGas from C$25.00 to C$26.00 and gave the company an “outperform” rating in a report on Sunday, May 2nd. Royal Bank of Canada upped their target price on AltaGas from C$26.00 to C$31.00 and gave the company an “outperform” rating in a report on Friday, June 18th. CSFB increased their price objective on AltaGas from C$27.00 to C$29.00 in a report on Thursday, June 17th. Finally, CIBC increased their price objective on AltaGas from C$26.00 to C$28.00 and gave the stock an “outperform” rating in a report on Friday, June 18th.
ALA stock traded down C$0.01 during mid-day trading on Friday, reaching C$26.22. 95,759 shares of the stock traded hands, compared to its average volume of 792,748. The company has a debt-to-equity ratio of 105.29, a quick ratio of 0.63 and a current ratio of 1.23. AltaGas has a 52-week low of C$15.53 and a 52-week high of C$26.66. The stock has a market capitalization of C$7.33 billion and a P/E ratio of 20.47. The stock has a fifty day moving average of C$25.26.
The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 16th. Stockholders of record on Monday, August 16th will be given a $0.0833 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.81%. This is a boost from AltaGas’s previous monthly dividend of $0.08. The ex-dividend date is Friday, July 23rd. AltaGas’s dividend payout ratio is currently 75.97%.
In other news, Director Deborah Susan Stein sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 22nd. The stock was sold at an average price of C$26.00, for a total value of C$26,000.00. Following the completion of the sale, the director now directly owns 45,100 shares of the company’s stock, valued at C$1,172,600.
AltaGas Company Profile
AltaGas Ltd. operates as a diversified energy infrastructure company in North America. The company operates through two segments, Utilities and Midstream. The Utilities segment owns and operates regulated natural gas distribution utilities in Michigan, Alaska, the District of Columbia, Maryland, and Virginia; and two regulated natural gas storage utilities in the United States serving approximately 1.7 million customers.
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