AltaGas Ltd. (TSE:ALA - Get Free Report)'s share price reached a new 52-week high on Friday . The stock traded as high as C$38.59 and last traded at C$38.47, with a volume of 270484 shares trading hands. The stock had previously closed at C$38.37.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on ALA shares. CIBC boosted their target price on AltaGas from C$40.00 to C$42.00 and gave the company an "outperform" rating in a research note on Thursday, January 9th. Scotiabank boosted their price target on AltaGas from C$40.00 to C$42.00 in a research note on Monday, March 10th. 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, the company presently has an average rating of "Moderate Buy" and an average target price of C$39.11.
Get Our Latest Research Report on ALA
AltaGas Price Performance
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 company has a 50-day moving average price of C$35.46 and a 200-day moving average price of C$34.44. The firm has a market capitalization of C$11.67 billion, a P/E ratio of 22.72, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23.
AltaGas (TSE:ALA - Get Free Report) last announced its quarterly earnings results on Friday, March 7th. The company reported C$0.76 EPS for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. On average, sell-side analysts predict that AltaGas Ltd. will post 2.3006093 earnings per share for the current year.
AltaGas Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be paid a $0.315 dividend. This is an increase from AltaGas's previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.26 annualized dividend and a dividend yield of 3.21%. AltaGas's dividend payout ratio (DPR) is currently 68.98%.
Insider Activity at AltaGas
In other news, 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 transaction of C$418,732.80. Also, Senior Officer James Harbilas sold 15,200 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of C$38.40, for a total transaction of C$583,680.00. In the last quarter, insiders have sold 305,405 shares of company stock valued at $11,580,506. 0.58% of the stock is owned by insiders.
About AltaGas
(
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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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