AltaGas (TSE:ALA) PT Raised to C$35.00 at Scotiabank

AltaGas (TSE:ALA) had its price target increased by Scotiabank from C$33.00 to C$35.00 in a report released on Friday, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other research analysts have also weighed in on the company. TD Securities upped their price objective on AltaGas from C$32.00 to C$34.00 and gave the stock a buy rating in a report on Monday, March 11th. Royal Bank of Canada upped their price target on shares of AltaGas from C$32.00 to C$34.00 and gave the stock an outperform rating in a research note on Friday. National Bankshares increased their price target on shares of AltaGas from C$31.00 to C$33.00 and gave the company an outperform rating in a report on Tuesday, January 30th. Finally, Jefferies Financial Group set a C$34.00 price objective on shares of AltaGas and gave the stock a buy rating in a report on Tuesday, February 27th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, AltaGas has a consensus rating of Buy and an average price target of C$34.15.

AltaGas Stock Down 0.1 %

ALA stock opened at C$30.36 on Friday. AltaGas has a one year low of C$22.57 and a one year high of C$30.55. The company has a debt-to-equity ratio of 125.64, a quick ratio of 0.44 and a current ratio of 0.89. The company has a fifty day moving average of C$29.47 and a 200-day moving average of C$28.14. The stock has a market capitalization of C$8.97 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of -4.97 and a beta of 1.22.

AltaGas (TSE:ALA) last announced its quarterly earnings data on Friday, March 8th. The company reported C$0.75 EPS for the quarter, meeting analysts’ consensus estimates of C$0.75. AltaGas had a net margin of 5.18% and a return on equity of 8.90%. The firm had revenue of C$3.29 billion during the quarter, compared to the consensus estimate of C$4.11 billion. As a group, analysts expect that AltaGas will post 2.1549815 EPS for the current year.

AltaGas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were given a dividend of $0.298 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.19 dividend on an annualized basis and a yield of 3.93%. This is a boost from AltaGas’s previous quarterly dividend of $0.28. AltaGas’s payout ratio is presently 52.65%.

Insider Buying and Selling at AltaGas

In related news, Director Jeremy Jason Weatherhead sold 12,215 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of C$29.60, for a total value of C$361,564.00. In other AltaGas news, 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 transaction of C$361,564.00. Also, Senior Officer Randy Warren Toone sold 40,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of C$29.18, for a total value of C$1,167,200.00. Insiders have sold 68,239 shares of company stock valued at $2,002,672 over the last quarter. Corporate 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.