AltaGas (TSE:ALA) Reaches New 12-Month Low at $21.90

AltaGas Ltd. (TSE:ALA – Get Rating) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$21.90 and last traded at C$22.20, with a volume of 169316 shares traded. The stock had previously closed at C$22.64.

Analyst Upgrades and Downgrades

ALA has been the topic of a number of research analyst reports. CIBC lifted their price target on shares of AltaGas from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research note on Tuesday, December 6th. BMO Capital Markets lowered their price objective on AltaGas from C$36.00 to C$35.00 in a research report on Friday, March 3rd. JPMorgan Chase & Co. lowered their price target on AltaGas from C$30.00 to C$28.00 in a report on Tuesday, December 6th. CSFB upped their price target on AltaGas from C$30.00 to C$33.00 in a research note on Wednesday, February 8th. Finally, Barclays set a C$29.00 target price on AltaGas and gave the company an “overweight” rating in a report on Wednesday, January 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, AltaGas currently has a consensus rating of “Moderate Buy” and a consensus price target of C$32.14.

AltaGas Trading Up 2.2 %

The business’s 50-day moving average price is C$24.12 and its 200 day moving average price is C$24.81. The company has a debt-to-equity ratio of 133.53, a quick ratio of 0.44 and a current ratio of 1.36. The company has a market cap of C$6.33 billion, a P/E ratio of 16.41, a P/E/G ratio of -4.97 and a beta of 1.31.

AltaGas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 4.98%. This is a positive change from AltaGas’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, March 15th. AltaGas’s payout ratio is presently 81.75%.

Insider Activity at AltaGas

In related news, Director David Wallace Cornhill purchased 5,000 shares of AltaGas stock in a transaction that occurred on Tuesday, December 20th. The stock was bought at an average price of C$22.70 per share, for a total transaction of C$113,500.00. Following the completion of the transaction, the director now owns 1,453,727 shares in the company, valued at C$32,999,602.90. 0.63% of the stock is owned by corporate insiders.

AltaGas Company Profile

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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.