AltaGas (TSE:ALA) Sets New 12-Month High at $29.75

Shares of AltaGas Ltd. (TSE:ALA - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as C$29.75 and last traded at C$29.60, with a volume of 33844 shares trading hands. The stock had previously closed at C$29.47.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Jefferies Financial Group set a C$34.00 price target on AltaGas and gave the stock a "buy" rating in a report on Tuesday, February 27th. JPMorgan Chase & Co. reduced their price target on AltaGas from C$33.00 to C$32.00 and set an "overweight" rating on the stock in a report on Monday, December 4th. National Bankshares lifted their price target on AltaGas from C$31.00 to C$33.00 and gave the stock an "outperform" rating in a report on Tuesday, January 30th. Scotiabank boosted their price objective on shares of AltaGas from C$31.00 to C$33.00 and gave the company an "outperform" rating in a report on Wednesday, January 24th. Finally, TD Securities boosted their price objective on shares of AltaGas from C$32.00 to C$34.00 and gave the company a "buy" rating in a report on Monday, March 11th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of C$33.23.

AltaGas Price Performance

The company has a quick ratio of 0.44, a current ratio of 0.89 and a debt-to-equity ratio of 125.64. The company has a market cap of C$8.84 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of -4.97 and a beta of 1.22. The company has a fifty day simple moving average of C$28.58 and a two-hundred day simple moving average of C$27.57.

AltaGas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, March 28th will be paid a dividend of $0.298 per share. The ex-dividend date is Thursday, March 14th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.98%. This is a positive change from AltaGas's previous quarterly dividend of $0.28. AltaGas's dividend payout ratio (DPR) is presently 52.65%.

Insider Activity at AltaGas

In other news, Senior Officer Randy Warren Toone sold 16,000 shares of the firm's stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of C$29.58, for a total value of C$473,200.00. In other news, Senior Officer Randy Warren Toone sold 16,000 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of C$29.58, for a total value of C$473,200.00. Also, Director Jeremy Jason Weatherhead sold 12,215 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of C$29.60, for a total value of C$361,564.00. Insiders have sold a total of 33,275 shares of company stock valued at $977,991 over the last quarter. Insiders own 0.63% of the company's stock.

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 1.7 million customers.