AltaGas (TSE:ALA) Price Target Raised to C$42.00

AltaGas (TSE:ALA) had its price target boosted by Scotiabank from C$40.00 to C$42.00 in a research report sent to investors on Monday,BayStreet.CA reports.

Separately, CIBC boosted their price target on shares of AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research note on Thursday, January 9th. 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, AltaGas currently has an average rating of “Moderate Buy” and an average target price of C$39.11.

AltaGas Stock Performance

Shares of ALA stock opened at C$38.17 on Monday. The firm has a market capitalization of C$11.36 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The firm has a fifty day simple moving average of C$34.77 and a two-hundred day simple moving average of C$34.18. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. AltaGas has a 12 month low of C$28.63 and a 12 month high of C$38.61.

AltaGas (TSE:ALA) last announced its quarterly earnings results on Friday, March 7th. The company reported C$0.76 EPS for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%. Analysts forecast that AltaGas will post 2.3006093 EPS for the current fiscal year.

AltaGas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a $0.298 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.19 annualized dividend and a dividend yield of 3.12%. AltaGas’s payout ratio is 68.98%.

Insider Transactions at AltaGas

In related news, Senior Officer Donald Mark Jenkins sold 12,352 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of C$33.90, for a total transaction of C$418,732.80. Also, Director Peter James Ledig sold 25,200 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of C$38.35, for a total transaction of C$966,420.00. Company insiders own 0.58% of the company’s stock.

AltaGas Company Profile

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.