AltaGas (TSE:ALA) Price Target Raised to C$42.00

AltaGas (TSE:ALA - Free Report) had its target price upped by Scotiabank from C$40.00 to C$42.00 in a report released on Monday,BayStreet.CA reports.

Separately, CIBC lifted their target price on AltaGas from C$40.00 to C$42.00 and gave the stock an "outperform" rating in a report on Thursday, January 9th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, AltaGas currently has a consensus rating of "Moderate Buy" and an average price target of C$39.11.

AltaGas Stock Performance

ALA stock traded down C$0.19 during mid-day trading on Monday, reaching C$38.17. The company had a trading volume of 1,662,871 shares, compared to its average volume of 889,757. AltaGas has a one year low of C$28.63 and a one year high of C$38.61. The stock has a market capitalization of C$11.36 billion, a P/E ratio of 22.12, a P/E/G ratio of -4.97 and a beta of 1.23. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26. The stock's 50-day simple moving average is C$34.77 and its two-hundred day simple moving average is C$34.18.

AltaGas (TSE:ALA - Get Free Report) last released its quarterly earnings results on Friday, March 7th. The company reported C$0.76 earnings per share for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. Research analysts anticipate that AltaGas will post 2.3006093 EPS for the current year.

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AltaGas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid a $0.298 dividend. This represents a $1.19 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend was Monday, December 16th. AltaGas's dividend payout ratio is 68.98%.

Insider Buying and Selling at AltaGas

In other AltaGas news, Senior Officer Vernon Dai-Chung Yu bought 7,600 shares of the company's stock in a transaction dated Friday, December 13th. The shares were bought at an average price of C$32.97 per share, for a total transaction of C$250,549.20. Also, Senior Officer Donald Mark Jenkins sold 12,352 shares of the firm's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of C$33.90, for a total transaction of C$418,732.80. Company insiders own 0.58% of the company's stock.

AltaGas Company Profile

AltaGas Ltd owns and operates a diversified basket of energy infrastructure businesses. Business is conducted through four segments: Midstream, power, utilities and corporate. Utility business owns and operates rate-regulated natural gas distribution assets across North America. Midstream business subsequent to the sale of non-core midstream assets in Canada and also engaged in the natural gas liquid processing and extraction, transportation, and storage.