AltaGas Ltd. (TSE:ALA - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$32.29 and traded as high as C$34.84. AltaGas shares last traded at C$34.66, with a volume of 590,312 shares traded.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on ALA shares. BMO Capital Markets upped their price target on AltaGas from C$37.00 to C$40.00 in a report on Thursday, September 5th. Royal Bank of Canada lifted their price objective on shares of AltaGas from C$37.00 to C$40.00 and gave the company an "outperform" rating in a research report on Thursday, October 3rd. Raymond James raised their target price on AltaGas from C$35.00 to C$37.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. JPMorgan Chase & Co. downgraded shares of AltaGas from an "overweight" rating to a "neutral" rating and increased their price target for the company from C$36.00 to C$37.00 in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group boosted their price objective on shares of AltaGas from C$37.00 to C$39.00 and gave the stock a "buy" rating in a report on Monday, September 30th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$38.10.
Read Our Latest Analysis on ALA
AltaGas Stock Up 1.4 %
The company has a debt-to-equity ratio of 115.50, a current ratio of 0.85 and a quick ratio of 0.44. The firm's 50-day moving average price is C$34.05 and its 200 day moving average price is C$32.33. The firm has a market capitalization of C$10.45 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23.
AltaGas Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.298 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.19 dividend on an annualized basis and a yield of 3.39%. AltaGas's dividend payout ratio (DPR) is 82.07%.
Insiders Place Their Bets
In related news, Senior Officer Randy Warren Toone sold 3,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of C$33.82, for a total value of C$101,460.00. Also, Senior Officer Vernon Dai-Chung Yu acquired 7,600 shares of the company's stock in a transaction dated Monday, November 4th. The shares were purchased at an average price of C$33.12 per share, for a total transaction of C$251,719.60. Corporate 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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