AltaGas (TSE:ALA) Price Target Raised to C$41.00 at JPMorgan Chase & Co.

AltaGas (TSE:ALA - Free Report) had its price objective increased by JPMorgan Chase & Co. from C$39.00 to C$41.00 in a report issued on Monday morning,BayStreet.CA reports.

A number of other equities research analysts have also commented on the company. CIBC upped their target price on AltaGas from C$40.00 to C$42.00 and gave the company an "outperform" rating in a research report on Thursday, January 9th. Scotiabank upped their price objective on shares of AltaGas from C$40.00 to C$42.00 in a report on Monday, March 10th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, AltaGas has a consensus rating of "Moderate Buy" and an average price target of C$39.56.

AltaGas Stock Performance

ALA stock traded up C$0.10 during trading on Monday, reaching C$40.03. The company had a trading volume of 576,152 shares, compared to its average volume of 904,496. The company has a market cap of C$11.92 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. AltaGas has a twelve month low of C$29.51 and a twelve month high of C$40.35. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03. The firm has a 50-day simple moving average of C$37.78 and a 200-day simple moving average of C$35.29.

AltaGas (TSE:ALA - Get Free Report) last posted its quarterly earnings data 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%. As a group, sell-side analysts expect that AltaGas will post 2.3006093 earnings per share for the current year.

AltaGas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were given a dividend of $0.315 per share. The ex-dividend date of this dividend was Monday, March 17th. This is a boost from AltaGas's previous quarterly dividend of $0.30. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.15%. AltaGas's dividend payout ratio (DPR) is 68.98%.

Insider Buying and Selling

In other AltaGas news, Senior Officer Corine Renae Knight Bushfield sold 144,064 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of C$38.00, for a total value of C$5,474,432.00. Also, Director Peter James Ledig sold 25,200 shares of AltaGas stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of C$38.35, for a total transaction of C$966,420.00. In the last quarter, insiders sold 398,414 shares of company stock valued at $15,302,227. 0.58% of the stock is owned by corporate insiders.

About AltaGas

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.