AltaGas (TSE:ALA) Hits New 1-Year High at $30.32

AltaGas Ltd. (TSE:ALA) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$30.32 and last traded at C$30.14, with a volume of 57571 shares. The stock had previously closed at C$30.20.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Jefferies Financial Group set a C$34.00 price objective on AltaGas and gave the company a “buy” rating in a report on Tuesday, February 27th. TD Securities boosted their price objective on shares of AltaGas from C$32.00 to C$34.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. CIBC raised their target price on shares of AltaGas from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research note on Friday, December 29th. National Bankshares boosted their target price on shares of AltaGas from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Finally, Scotiabank raised their price target on AltaGas from C$31.00 to C$33.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$33.75.

AltaGas Trading Down 0.3 %

The company has a quick ratio of 0.44, a current ratio of 0.89 and a debt-to-equity ratio of 125.64. The firm has a market capitalization of C$8.90 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of -4.97 and a beta of 1.22. The business has a 50-day moving average of C$29.31 and a two-hundred day moving average of C$28.02.

AltaGas (TSE:ALA) last announced its quarterly earnings data on Friday, March 8th. The company reported C$0.75 earnings per share for the quarter, hitting the consensus estimate of C$0.75. The company had revenue of C$3.29 billion for the quarter, compared to analyst estimates of C$4.11 billion. AltaGas had a return on equity of 8.90% and a net margin of 5.18%. Research analysts predict that AltaGas Ltd. will post 2.1549815 EPS for the current fiscal year.

AltaGas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were issued a $0.298 dividend. This represents a $1.19 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from AltaGas’s previous quarterly dividend of $0.28. AltaGas’s payout ratio is 52.65%.

Insider Transactions at AltaGas

In related news, Senior Officer Randy Warren Toone sold 16,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of C$29.58, for a total value of C$473,200.00. In other AltaGas news, Senior Officer Randy Warren Toone sold 16,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of C$29.58, for a total value of C$473,200.00. Also, Director Jeremy Jason Weatherhead sold 12,215 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of C$29.60, for a total value of C$361,564.00. In the last three months, insiders sold 68,239 shares of company stock valued at $2,002,672. Company insiders own 0.57% of the company’s stock.

AltaGas Company Profile

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.