Shares of AltaGas Ltd. (TSE:ALA - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$33.55 and traded as high as C$34.97. AltaGas shares last traded at C$34.90, with a volume of 641,354 shares changing hands.
Analyst Ratings Changes
Several analysts recently weighed in on the company. Scotiabank upped their price target on AltaGas from C$38.00 to C$39.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. cut AltaGas from an "overweight" rating to a "neutral" rating and increased their target price for the stock from C$36.00 to C$37.00 in a research note on Wednesday, October 23rd. Finally, CIBC raised their price target on AltaGas from C$40.00 to C$42.00 and gave the company an "outperform" rating in a report on Thursday, January 9th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of C$38.30.
Get Our Latest Stock Analysis on ALA
AltaGas Price Performance
The stock has a market capitalization of C$10.34 billion, a PE ratio of 23.97, a PEG ratio of -4.97 and a beta of 1.23. The firm's fifty day moving average price is C$33.76 and its two-hundred day moving average price is C$33.61. The company has a quick ratio of 0.44, a current ratio of 0.85 and a debt-to-equity ratio of 115.50.
AltaGas Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a $0.298 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.43%. AltaGas's dividend payout ratio (DPR) is currently 82.07%.
Insider Activity at AltaGas
In other AltaGas news, Senior Officer Vernon Dai-Chung Yu purchased 7,600 shares of the company's stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of C$32.97 per share, for a total transaction of C$250,549.20. Also, Senior Officer Donald Mark Jenkins sold 12,352 shares of the business's stock in a transaction on Monday, January 13th. The shares were sold at an average price of C$33.90, for a total transaction of C$418,732.80. 0.58% of the stock is owned by company insiders.
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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