AltaGas Ltd. (TSE:ALA - Get Free Report)'s stock price hit a new 52-week high on Monday after Scotiabank raised their price target on the stock from C$40.00 to C$42.00. The company traded as high as C$38.30 and last traded at C$38.09, with a volume of 126213 shares. The stock had previously closed at C$37.42.
Separately, CIBC upped their price target on shares of AltaGas from C$40.00 to C$42.00 and gave the company an "outperform" rating in a research note on Thursday, January 9th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$39.11.
Check Out Our Latest Stock Analysis on AltaGas
Insider Activity at AltaGas
In other AltaGas news, Senior Officer Vernon Dai-Chung Yu purchased 7,600 shares of the stock in a transaction on Friday, December 13th. The shares were purchased at an average price of C$32.97 per share, with a total value of C$250,549.20. Also, Director Peter James Ledig sold 25,200 shares of AltaGas stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of C$38.35, for a total value of C$966,420.00. 0.58% of the stock is owned by corporate insiders.
AltaGas Price Performance
The firm has a market capitalization of C$11.36 billion, a PE ratio of 22.12, a P/E/G ratio of -4.97 and a beta of 1.23. The company has a debt-to-equity ratio of 135.26, a current ratio of 1.03 and a quick ratio of 0.44. The business's 50 day moving average is C$34.68 and its two-hundred day moving average is C$34.15.
AltaGas (TSE:ALA - Get Free Report) last posted its quarterly earnings data on Friday, March 7th. The company reported C$0.76 earnings per share for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%. As a group, research analysts anticipate that AltaGas Ltd. will post 2.3006093 EPS for the current year.
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 issued a dividend of $0.298 per share. The ex-dividend date was Monday, December 16th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.12%. AltaGas's dividend payout ratio is 68.98%.
AltaGas Company Profile
(
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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.
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