AltaGas (TSE:ALA) PT Set at C$36.00 by ATB Capital

ATB Capital set a C$36.00 price target on AltaGas (TSE:ALA) in a research note published on Tuesday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

ALA has been the topic of several other reports. CIBC upped their price objective on shares of AltaGas from C$38.00 to C$40.00 in a report on Monday, July 15th. BMO Capital Markets increased their price target on shares of AltaGas from C$37.00 to C$40.00 in a report on Thursday, September 5th. Raymond James boosted their price objective on AltaGas from C$35.00 to C$37.00 and gave the stock an outperform rating in a report on Friday, August 2nd. Scotiabank increased their target price on AltaGas from C$36.00 to C$38.00 and gave the stock an outperform rating in a research note on Tuesday, August 20th. Finally, JPMorgan Chase & Co. boosted their price target on AltaGas from C$33.00 to C$36.00 in a research note on Friday, July 19th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of C$37.40.

AltaGas Trading Down 0.3 %

AltaGas stock opened at C$33.31 on Tuesday. 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 stock has a 50-day simple moving average of C$33.32 and a 200 day simple moving average of C$31.22. The stock has a market capitalization of C$9.91 billion, a P/E ratio of 22.97, a PEG ratio of -4.97 and a beta of 1.24. AltaGas has a 52 week low of C$24.67 and a 52 week high of C$35.49.

AltaGas (TSE:ALA) last issued its earnings results 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 company had revenue of C$2.78 billion during the quarter, compared to the consensus estimate of C$2.54 billion. AltaGas had a return on equity of 5.78% and a net margin of 3.58%. Analysts expect that AltaGas will post 2.299654 earnings per share for the current year.

AltaGas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were given a dividend of $0.298 per share. The ex-dividend date was Monday, September 16th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.58%. AltaGas’s payout ratio is 82.07%.

Insider Transactions at AltaGas

In related news, Senior Officer Randy Warren Toone sold 3,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of C$35.32, for a total value of C$105,960.00. In other AltaGas news, Director Aaron Bishop sold 19,820 shares of the business’s stock in a transaction that occurred 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. Also, Senior Officer Randy Warren Toone sold 3,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of C$35.32, for a total value of C$105,960.00. In the last three months, insiders have sold 33,320 shares of company stock valued at $1,125,051. 0.58% of the stock is owned by corporate insiders.

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.