A number of other analysts have also recently weighed in on the company. Canaccord Genuity Group reduced their price target on AltaGas from C$32.00 to C$31.00 in a research report on Monday, October 31st. CIBC upped their target price on AltaGas from C$32.00 to C$34.00 and gave the stock an outperform rating in a research report on Tuesday, December 6th. National Bankshares dropped their price target on shares of AltaGas from C$33.00 to C$30.00 in a research report on Thursday, October 20th. BMO Capital Markets decreased their price objective on shares of AltaGas from C$37.00 to C$36.00 in a report on Monday, October 31st. Finally, JPMorgan Chase & Co. dropped their target price on shares of AltaGas from C$30.00 to C$28.00 in a report on Tuesday, December 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of C$32.04.
AltaGas Stock Up 1.3 %
ALA opened at C$24.51 on Monday. The company has a market capitalization of C$6.90 billion and a PE ratio of 36.58. The business has a 50-day moving average of C$23.46 and a 200-day moving average of C$25.90. AltaGas has a fifty-two week low of C$22.05 and a fifty-two week high of C$31.16. The company has a debt-to-equity ratio of 123.88, a current ratio of 1.09 and a quick ratio of 0.44.
AltaGas Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Thursday, March 16th will be given a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, March 15th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.57%. This is an increase from AltaGas’s previous quarterly dividend of $0.27. AltaGas’s dividend payout ratio (DPR) is currently 155.96%.
In related news, Senior Officer Randy Warren Toone sold 54,000 shares of the firm’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of C$22.49, for a total value of C$1,214,460.00. Following the completion of the transaction, the insider now directly owns 321,387 shares of the company’s stock, valued at C$7,227,993.63. In other news, Senior Officer Randy Warren Toone sold 54,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of C$22.49, for a total value of C$1,214,460.00. Following the sale, the insider now directly owns 321,387 shares in the company, valued at approximately C$7,227,993.63. Also, Director David Wallace Cornhill acquired 5,000 shares of the company’s stock in a transaction on Tuesday, December 20th. The shares were bought at an average price of C$22.70 per share, with a total value of C$113,500.00. Following the completion of the purchase, the director now directly owns 1,453,727 shares of the company’s stock, valued at C$32,999,602.90.
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 rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.7 million customers.
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