AltaGas Ltd. (TSE:ALA – Get Free Report)’s stock price reached a new 52-week high 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. The stock had previously closed at C$30.36.
Several other research analysts have also weighed in on the company. Royal Bank of Canada boosted their price target on AltaGas from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Friday. National Bankshares boosted their price target on AltaGas from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. TD Securities boosted their target price on AltaGas from C$32.00 to C$34.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Finally, Jefferies Financial Group set a C$34.00 target price on AltaGas and gave the stock a “buy” rating in a report on Tuesday, February 27th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$34.15.
Get Our Latest Stock Report on ALA
Insider Buying and Selling
AltaGas Trading Down 0.5 %
The business has a 50-day moving average price of C$29.50 and a two-hundred day moving average price of C$28.19. The stock has a market capitalization of C$8.92 billion, a P/E ratio of 13.36, a P/E/G ratio of -4.97 and a beta of 1.22. The company has a current ratio of 0.89, a quick ratio of 0.44 and a debt-to-equity ratio of 125.64.
AltaGas (TSE:ALA – Get Free Report) last released 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 firm had revenue of C$3.29 billion during 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%. On average, analysts expect that AltaGas Ltd. will post 2.1549815 EPS for the current fiscal year.
AltaGas Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were given a dividend of $0.298 per share. This is an increase from AltaGas’s previous quarterly dividend of $0.28. This represents a $1.19 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend was Thursday, March 14th. AltaGas’s dividend payout ratio is currently 52.65%.
AltaGas Company Profile
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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