AltaGas (TSE:ALA) Reaches New 12-Month High at $30.32

Shares of AltaGas Ltd. (TSE:ALA - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as C$30.32 and last traded at C$30.14, with a volume of 57571 shares. The stock had previously closed at C$30.20.

Analyst Ratings Changes

A number of research analysts have issued reports on ALA shares. TD Securities lifted their price objective on AltaGas from C$32.00 to C$34.00 and gave the company a "buy" rating in a report on Monday, March 11th. National Bankshares lifted their price objective on AltaGas from C$31.00 to C$33.00 and gave the company an "outperform" rating in a report on Tuesday, January 30th. Scotiabank lifted their price objective on AltaGas from C$31.00 to C$33.00 and gave the company an "outperform" rating in a report on Wednesday, January 24th. CIBC lifted their price objective on AltaGas from C$34.00 to C$36.00 and gave the company an "outperform" rating in a report on Friday, December 29th. Finally, Jefferies Financial Group set a C$34.00 price objective on AltaGas and gave the company a "buy" rating in a report on Tuesday, February 27th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of C$33.75.

AltaGas Price Performance

The stock has a fifty day moving average of C$29.27 and a 200-day moving average of C$27.99. 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 firm has a market capitalization of C$8.92 billion, a P/E ratio of 13.37, a PEG ratio of -4.97 and a beta of 1.22.

AltaGas (TSE:ALA - Get Free Report) last announced its quarterly earnings data on Friday, March 8th. The company reported C$0.75 EPS for the quarter, hitting analysts' consensus estimates of C$0.75. The firm had revenue of C$3.29 billion during the quarter, compared to analyst estimates of C$4.11 billion. AltaGas had a return on equity of 8.90% and a net margin of 5.18%. Equities analysts predict that AltaGas Ltd. will post 2.1549815 EPS for the current fiscal year.

AltaGas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were given a $0.298 dividend. This represents a $1.19 dividend on an annualized basis and a yield of 3.94%. This is a positive change from AltaGas's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, March 14th. AltaGas's dividend payout ratio (DPR) is presently 52.65%.

Insider Buying and Selling

In related news, Director Jeremy Jason Weatherhead sold 12,215 shares of AltaGas stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of C$29.60, for a total value of C$361,564.00. In other news, Senior Officer Randy Warren Toone sold 16,000 shares of the business's stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of C$29.58, for a total transaction of C$473,200.00. Also, Director Jeremy Jason Weatherhead sold 12,215 shares of the business's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of C$29.60, for a total value of C$361,564.00. Insiders sold a total of 68,239 shares of company stock worth $2,002,672 over the last three months. 0.57% 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.