AltaGas Ltd. (TSE:ALA – Get Free Report) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$53.29 and traded as high as C$53.76. AltaGas shares last traded at C$53.69, with a volume of 1,062,108 shares traded.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on ALA. Scotiabank upped their target price on AltaGas from C$54.00 to C$57.00 and gave the company a “sector outperform” rating in a report on Friday, May 1st. National Bank Financial boosted their price objective on AltaGas from C$52.00 to C$60.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. JPMorgan Chase & Co. upped their price objective on shares of AltaGas from C$49.00 to C$52.00 in a research note on Tuesday, April 14th. ATB Cormark Capital Markets raised their target price on shares of AltaGas from C$54.00 to C$56.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Finally, Royal Bank Of Canada lifted their target price on shares of AltaGas from C$50.00 to C$55.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat, AltaGas presently has an average rating of “Buy” and an average price target of C$54.25.
Read Our Latest Analysis on AltaGas
AltaGas Stock Performance
AltaGas (TSE:ALA – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported C$1.33 earnings per share for the quarter. The firm had revenue of C$3.97 billion for the quarter. AltaGas had a return on equity of 5.92% and a net margin of 4.02%. Analysts expect that AltaGas Ltd. will post 2.3006093 EPS for the current year.
AltaGas Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a $0.334 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.5%. AltaGas’s dividend payout ratio is currently 77.99%.
AltaGas Company Profile
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.
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