AltaGas (TSE:ALA) Price Target Increased to C$39.00 by Analysts at Jefferies Financial Group

AltaGas (TSE:ALA) had its price target lifted by Jefferies Financial Group from C$37.00 to C$39.00 in a report released on Monday, BayStreet.CA reports. Jefferies Financial Group currently has a buy rating on the stock.

ALA has been the subject of several other research reports. Royal Bank of Canada increased their price objective on AltaGas from C$34.00 to C$37.00 and gave the company an outperform rating in a report on Friday, August 2nd. BMO Capital Markets increased their price target on AltaGas from C$37.00 to C$40.00 in a research note on Thursday, September 5th. Raymond James boosted their price target on AltaGas from C$35.00 to C$37.00 and gave the stock an outperform rating in a research note on Friday, August 2nd. Scotiabank upped their price objective on shares of AltaGas from C$36.00 to C$38.00 and gave the company an outperform rating in a report on Tuesday, August 20th. Finally, CIBC lifted their target price on shares of AltaGas from C$38.00 to C$40.00 in a research note on Monday, July 15th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, AltaGas currently has an average rating of Buy and an average price target of C$37.90.

AltaGas Stock Performance

Shares of AltaGas stock opened at C$33.57 on Monday. AltaGas has a one year low of C$24.67 and a one year high of C$35.49. The company has a market capitalization of C$9.98 billion, a PE ratio of 23.15, a P/E/G ratio of -4.97 and a beta of 1.24. The company has a debt-to-equity ratio of 115.50, a quick ratio of 0.44 and a current ratio of 0.85. The company has a 50-day simple moving average of C$33.48 and a two-hundred day simple moving average of C$31.31.

AltaGas (TSE:ALA) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$0.14 EPS for the quarter, topping the consensus estimate of C$0.12 by C$0.02. The firm had revenue of C$2.78 billion during the quarter, compared to analyst estimates of C$2.54 billion. AltaGas had a net margin of 3.58% and a return on equity of 5.78%. Research analysts expect that AltaGas will post 2.299654 EPS for the current fiscal year.

AltaGas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were paid a dividend of $0.298 per share. This represents a $1.19 annualized dividend and a yield of 3.55%. The ex-dividend date was Monday, September 16th. AltaGas’s payout ratio is 82.07%.

Insider Transactions at AltaGas

In related news, Director Aaron Bishop sold 19,820 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of C$33.58, for a total transaction of C$665,555.60. In other AltaGas news, Senior Officer Bertram Grant Bradley sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$33.61, for a total value of C$252,075.00. Also, Director Aaron Bishop sold 19,820 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of C$33.58, for a total transaction of C$665,555.60. Insiders have sold 33,320 shares of company stock worth $1,125,051 over the last 90 days. 0.58% of the stock is currently owned by company insiders.

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.