AltaGas Ltd. (TSE:ALA - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$34.87 and traded as high as C$38.53. AltaGas shares last traded at C$38.19, with a volume of 626,775 shares changing hands.
Wall Street Analyst Weigh In
Several analysts have weighed in on ALA shares. CIBC boosted their price objective on AltaGas from C$40.00 to C$42.00 and gave the company an "outperform" rating in a research report on Thursday, January 9th. Scotiabank upped their price target on shares of AltaGas from C$40.00 to C$42.00 in a report on Monday, March 10th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of C$39.11.
Read Our Latest Stock Analysis on ALA
AltaGas Stock Up 1.9 %
The company has a fifty day moving average price of C$36.86 and a 200-day moving average price of C$34.91. 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 has a market capitalization of C$11.79 billion, a PE ratio of 22.95, a PEG ratio of -4.97 and a beta of 1.23.
AltaGas (TSE:ALA - Get Free Report) last issued its quarterly earnings data on Friday, March 7th. The company reported C$0.76 earnings per share for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. As a group, analysts expect that AltaGas Ltd. will post 2.3006093 earnings per share for the current year.
AltaGas Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were paid a dividend of $0.315 per share. This is a positive change from AltaGas's previous quarterly dividend of $0.30. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Monday, March 17th. AltaGas's dividend payout ratio (DPR) is currently 68.98%.
Insider Transactions at AltaGas
In other news, Senior Officer Randy Warren Toone sold 92,000 shares of the business's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of C$39.19, for a total value of C$3,605,480.00. Also, Director Peter James Ledig sold 13,361 shares of AltaGas stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of C$40.04, for a total value of C$534,974.44. Over the last ninety days, insiders sold 398,414 shares of company stock worth $15,302,227. 0.58% of the stock is currently owned by insiders.
AltaGas Company Profile
(
Get Free Report)
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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