AltaGas Ltd. (TSE:ALA – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Wednesday after Scotiabank raised their price target on the stock from C$36.00 to C$38.00. Scotiabank currently has an outperform rating on the stock. AltaGas traded as high as C$33.94 and last traded at C$33.89, with a volume of 93225 shares changing hands. The stock had previously closed at C$33.73.
A number of other research firms have also weighed in on ALA. CIBC lifted their target price on AltaGas from C$38.00 to C$40.00 in a report on Monday, July 15th. Raymond James lifted their target price on AltaGas from C$35.00 to C$37.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. BMO Capital Markets lifted their target price on AltaGas from C$36.00 to C$37.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. National Bankshares lifted their target price on AltaGas from C$35.00 to C$36.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group lifted their target price on AltaGas from C$34.00 to C$37.00 and gave the company a “buy” rating in a report on Monday, July 29th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$36.80.
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Insider Buying and Selling at AltaGas
AltaGas Trading Up 0.5 %
The company has a current ratio of 0.85, a quick ratio of 0.44 and a debt-to-equity ratio of 115.50. The stock has a 50 day simple moving average of C$31.65 and a 200-day simple moving average of C$30.23. The firm has a market cap of C$10.08 billion, a P/E ratio of 23.33, a P/E/G ratio of -4.97 and a beta of 1.25.
AltaGas Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be paid a $0.298 dividend. This represents a $1.19 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Monday, September 16th. AltaGas’s payout ratio is 82.07%.
About AltaGas
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.
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