AltaGas Ltd. (TSE:ALA – Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as C$56.77 and last traded at C$56.72, with a volume of 130855 shares changing hands. The stock had previously closed at C$56.22.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on ALA shares. National Bank Financial lifted their target price on AltaGas from C$52.00 to C$60.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. ATB Cormark Capital Markets increased their price target on AltaGas from C$54.00 to C$56.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. raised their price target on AltaGas from C$49.00 to C$52.00 in a research note on Tuesday, April 14th. Royal Bank Of Canada upped their price objective on AltaGas from C$50.00 to C$55.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Finally, Scotiabank raised their target price on shares of AltaGas from C$57.00 to C$62.00 and gave the company a “sector outperform” rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, AltaGas currently has a consensus rating of “Buy” and a consensus price target of C$54.88.
Check Out Our Latest Research Report on AltaGas
AltaGas Price Performance
AltaGas (TSE:ALA – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported C$1.33 earnings per share (EPS) for the quarter. AltaGas had a return on equity of 5.92% and a net margin of 4.02%.The firm had revenue of C$3.97 billion for the quarter. On average, sell-side analysts anticipate that AltaGas Ltd. will post 2.3006093 earnings per share for the current year.
AltaGas Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a dividend of $0.334 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $1.34 annualized dividend and a dividend yield of 2.3%. AltaGas’s payout ratio is presently 77.99%.
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. Natural gas is sold and purchased for both commercial and industrial users.
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