AltaGas Ltd. (TSE:ALA – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Monday after Scotiabank raised their price target on the stock from C$33.00 to C$35.00. Scotiabank currently has an outperform rating on the stock. AltaGas traded as high as C$30.58 and last traded at C$30.40, with a volume of 236122 shares changing hands. The stock had previously closed at C$30.36.
Other equities research analysts also recently issued reports about the company. National Bankshares raised their target price on AltaGas from C$31.00 to C$33.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Jefferies Financial Group set a C$34.00 target price on AltaGas and gave the company a “buy” rating in a report on Tuesday, February 27th. Royal Bank of Canada raised their target price on AltaGas from C$32.00 to C$34.00 and gave the company an “outperform” rating in a report on Friday. Finally, TD Securities raised their target price on AltaGas from C$32.00 to C$34.00 and gave the company a “buy” rating in a report on Monday, March 11th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$34.15.
View Our Latest Stock Report on AltaGas
Insider Buying and Selling
AltaGas Stock Down 0.5 %
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 company has a market capitalization of C$8.92 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of -4.97 and a beta of 1.22. The business’s 50 day simple moving average is C$29.50 and its 200 day simple moving average is C$28.19.
AltaGas (TSE:ALA – Get Free Report) last issued its earnings results on Friday, March 8th. The company reported C$0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of C$0.75. The company had revenue of C$3.29 billion for the quarter, compared to the consensus estimate of C$4.11 billion. AltaGas had a return on equity of 8.90% and a net margin of 5.18%. As a group, analysts forecast that AltaGas Ltd. will post 2.1549815 EPS for the current year.
AltaGas Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were issued a $0.298 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.19 dividend on an annualized basis and a yield of 3.95%. This is an increase from AltaGas’s previous quarterly dividend of $0.28. AltaGas’s dividend payout ratio is currently 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.
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