Altagas Ltd (ALA) Given Average Rating of “Hold” by Brokerages

Shares of Altagas Ltd (TSE:ALA) have been assigned a consensus rating of “Hold” from the ten brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is C$22.10.

ALA has been the subject of several recent research reports. CIBC dropped their price objective on Altagas from C$32.00 to C$30.00 in a report on Tuesday, September 11th. BMO Capital Markets decreased their target price on Altagas from C$27.00 to C$26.00 in a research report on Tuesday, September 11th. National Bank Financial decreased their target price on Altagas from C$28.00 to C$26.00 and set a “sector perform” rating for the company in a research report on Friday, September 14th. Canaccord Genuity decreased their target price on Altagas from C$26.00 to C$24.00 in a research report on Friday, September 14th. Finally, Industrial Alliance Securities decreased their target price on Altagas from C$29.50 to C$28.50 in a research report on Monday, September 17th.

In related news, insider Jared Blake Green sold 4,750 shares of the business’s stock in a transaction that occurred on Tuesday, October 9th. The stock was sold at an average price of C$21.02, for a total value of C$99,845.00. Also, Director Phillip R. Knoll acquired 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 25th. The stock was acquired at an average price of C$20.91 per share, with a total value of C$52,275.00.

TSE:ALA traded up C$0.14 on Monday, hitting C$14.59. 523,503 shares of the stock were exchanged, compared to its average volume of 1,139,377. Altagas has a 52 week low of C$13.75 and a 52 week high of C$29.48. The company has a debt-to-equity ratio of 147.75, a current ratio of 0.77 and a quick ratio of 0.21.

The business also recently announced a monthly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, November 26th will be given a dividend of $0.183 per share. The ex-dividend date is Friday, November 23rd. This represents a $2.20 annualized dividend and a dividend yield of 15.05%. Altagas’s payout ratio is currently -62.95%.

About Altagas

AltaGas Ltd. operates as a diversified energy infrastructure company in North America. It operates through three segments: Gas, Power, and Utilities. The Gas segment engages in natural gas gathering and processing; natural gas liquids (NGL) extraction and separation, transmission, and storage; and natural gas and NGL marketing activities, as well as buying and selling natural gas.

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Analyst Recommendations for Altagas (TSE:ALA)

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