AltaGas Ltd. (TSE:ALA – Get Free Report) crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of C$54.15 and traded as high as C$54.94. AltaGas shares last traded at C$54.72, with a volume of 720,092 shares changing hands.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on ALA shares. Royal Bank Of Canada boosted their price objective on AltaGas from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Canadian Imperial Bank of Commerce cut AltaGas from an “outperformer” rating to a “hold” rating and set a C$58.00 target price for the company. in a report on Thursday, October 22nd. BMO Capital Markets increased their target price on AltaGas from C$54.00 to C$59.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Scotia lifted their price target on AltaGas from C$61.00 to C$63.00 and gave the company a “sector outperform” rating in a research note on Friday, October 30th. Finally, ATB Cormark Capital Markets lifted their price target on AltaGas from C$60.00 to C$63.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$58.10.
Check Out Our Latest Report on AltaGas
AltaGas Stock Performance
The company’s 50-day simple moving average is C$54.15 and its 200-day simple moving average is C$51.48. The stock has a market capitalization of C$17.07 billion, a price-to-earnings ratio of 27.36, a PEG ratio of -4.97 and a beta of 0.30. The company has a current ratio of 0.85, a quick ratio of 0.43 and a debt-to-equity ratio of 120.38.
AltaGas (TSE:ALA – Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The company reported C$0.29 EPS for the quarter. AltaGas had a net margin of 4.33% and a return on equity of 6.83%. The company had revenue of C$3.43 billion for the quarter. On average, analysts expect that AltaGas Ltd. will post 2.30 EPS for the current year.
AltaGas Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th were issued a $0.3340 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Wednesday, September 16th. AltaGas’s dividend payout ratio is presently 65.85%.
AltaGas Company Profile
AltaGas is a leading North American infrastructure company that connects customers and markets to affordable and reliable sources of energy. The Company operates a diversified, lower-risk, high-growth Utilities and Midstream business that is focused on delivering resilient and durable value for its stakeholders.
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