AltaGas Ltd. (TSE:ALA - Get Free Report)'s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$32.74 and traded as low as C$32.56. AltaGas shares last traded at C$32.73, with a volume of 2,239,023 shares trading hands.
Analysts Set New Price Targets
A number of equities analysts recently commented on ALA shares. JPMorgan Chase & Co. lowered shares of AltaGas from an "overweight" rating to a "neutral" rating and raised their price target for the stock from C$36.00 to C$37.00 in a research report on Wednesday, October 23rd. National Bankshares lifted their price target on shares of AltaGas from C$36.00 to C$39.00 and gave the company an "outperform" rating in a research report on Friday, August 23rd. Scotiabank increased their price target on AltaGas from C$38.00 to C$39.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. BMO Capital Markets lifted their price objective on AltaGas from C$37.00 to C$40.00 in a report on Thursday, September 5th. Finally, Royal Bank of Canada upped their target price on AltaGas from C$37.00 to C$40.00 and gave the company an "outperform" rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, AltaGas has an average rating of "Moderate Buy" and an average price target of C$38.10.
View Our Latest Stock Analysis on ALA
AltaGas Trading Up 0.3 %
The company has a market capitalization of C$9.76 billion, a price-to-earnings ratio of 22.64, a P/E/G ratio of -4.97 and a beta of 1.23. The company has a current ratio of 0.85, a quick ratio of 0.44 and a debt-to-equity ratio of 115.50. The business's 50 day moving average price is C$34.02 and its two-hundred day moving average price is C$32.74.
AltaGas Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.298 per share. The ex-dividend date is Monday, December 16th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.63%. AltaGas's payout ratio is presently 82.07%.
Insider Transactions at AltaGas
In other news, Senior Officer Randy Warren Toone sold 3,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of C$35.32, for a total transaction of C$105,960.00. Also, Senior Officer Vernon Dai-Chung Yu acquired 7,600 shares of the stock in a transaction dated Friday, December 13th. The stock was acquired at an average cost of C$32.97 per share, with a total value of C$250,549.20. Company insiders own 0.58% of the company's stock.
About AltaGas
(
Get Free Report)
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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