AltaGas (TSE:ALA - Get Free Report) announced its quarterly earnings results on Friday. The company reported C$0.76 earnings per share for the quarter, RTT News reports. AltaGas had a return on equity of 6.36% and a net margin of 4.04%.
AltaGas Trading Down 0.6 %
ALA traded down C$0.22 during mid-day trading on Tuesday, reaching C$38.36. The stock had a trading volume of 2,891,655 shares, compared to its average volume of 873,651. The stock has a market capitalization of C$11.42 billion, a P/E ratio of 22.23, a P/E/G ratio of -4.97 and a beta of 1.23. AltaGas has a 52 week low of C$28.63 and a 52 week high of C$38.61. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03. The firm's fifty day simple moving average is C$34.68 and its two-hundred day simple moving average is C$34.15.
AltaGas Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.298 per share. This represents a $1.19 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Monday, December 16th. AltaGas's dividend payout ratio is 68.98%.
Insider Activity
In other news, Senior Officer Vernon Dai-Chung Yu purchased 7,600 shares of AltaGas stock in a transaction dated Friday, December 13th. The shares were bought at an average cost of C$32.97 per share, with a total value of C$250,549.20. Also, Senior Officer Donald Mark Jenkins sold 12,352 shares of the business's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of C$33.90, for a total value of C$418,732.80. 0.58% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several research firms have recently weighed in on ALA. Scotiabank upped their target price on shares of AltaGas from C$40.00 to C$42.00 in a report on Monday. CIBC boosted 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 report on Thursday, January 9th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of C$38.60.
Read Our Latest Research Report on ALA
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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