Shares of AltaGas Ltd. (TSE:ALA - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$43.89 and traded as high as C$49.33. AltaGas shares last traded at C$48.82, with a volume of 1,046,920 shares traded.
Analyst Upgrades and Downgrades
A number of brokerages have commented on ALA. Scotiabank lifted their target price on shares of AltaGas from C$52.00 to C$54.00 and gave the stock an "outperform" rating in a research note on Monday, April 6th. ATB Cormark Capital Markets lifted their target price on shares of AltaGas from C$49.00 to C$52.00 and gave the stock an "outperform" rating in a research note on Monday, March 9th. Royal Bank Of Canada lifted their target price on shares of AltaGas from C$48.00 to C$50.00 and gave the stock an "outperform" rating in a research note on Monday, March 9th. Jefferies Financial Group lifted their target price on shares of AltaGas from C$49.00 to C$53.00 in a research note on Monday, March 9th. Finally, National Bank Financial lifted their target price on shares of AltaGas from C$50.00 to C$51.00 and gave the stock an "outperform" rating in a research note on Monday, March 9th. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$50.67.
View Our Latest Report on ALA
AltaGas Stock Down 0.9%
The business's 50 day moving average price is C$47.37 and its 200-day moving average price is C$43.89. The firm has a market capitalization of C$15.19 billion, a PE ratio of 19.69, a P/E/G ratio of -4.97 and a beta of 0.34. The company has a debt-to-equity ratio of 118.25, a quick ratio of 0.44 and a current ratio of 0.82.
AltaGas (TSE:ALA - Get Free Report) last released its quarterly earnings results on Friday, March 6th. The company reported C$0.77 earnings per share (EPS) for the quarter. AltaGas had a net margin of 6.14% and a return on equity of 8.74%. The business had revenue of C$3.29 billion for the quarter. As a group, equities research analysts forecast that AltaGas Ltd. will post 2.3006093 earnings per share for the current year.
AltaGas Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were given a $0.334 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.7%. This is a boost from AltaGas's previous quarterly dividend of $0.32. AltaGas's payout ratio is currently 50.81%.
AltaGas Company Profile
(
Get Free Report)
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. Natural gas is sold and purchased for both commercial and industrial users.
Further Reading
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