AltaGas (TSE:ALA) Price Target Increased to C$39.00 by Analysts at Jefferies Financial Group

AltaGas (TSE:ALA) had its price target increased by Jefferies Financial Group from C$37.00 to C$39.00 in a report released on Monday, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other analysts have also issued reports on the company. Royal Bank of Canada lifted their target price on AltaGas from C$34.00 to C$37.00 and gave the stock an outperform rating in a research report on Friday, August 2nd. Raymond James lifted their target price on AltaGas from C$35.00 to C$37.00 and gave the stock an outperform rating in a research report on Friday, August 2nd. Scotiabank lifted their target price on AltaGas from C$36.00 to C$38.00 and gave the stock an outperform rating in a research report on Tuesday, August 20th. CIBC boosted their price objective on AltaGas from C$38.00 to C$40.00 in a report on Monday, July 15th. Finally, JPMorgan Chase & Co. boosted their price objective on AltaGas from C$33.00 to C$36.00 in a report on Friday, July 19th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, AltaGas has a consensus rating of Buy and a consensus price target of C$37.60.

AltaGas Trading Up 0.5 %

Shares of ALA opened at C$33.48 on Monday. The stock’s 50-day moving average is C$33.37 and its two-hundred day moving average is C$31.25. The stock has a market cap of C$9.96 billion, a PE ratio of 23.07, a P/E/G ratio of -4.97 and a beta of 1.24. AltaGas has a 12 month low of C$24.67 and a 12 month high of C$35.49. The company has a debt-to-equity ratio of 115.50, a current ratio of 0.85 and a quick ratio of 0.44.

AltaGas (TSE:ALA) last announced its earnings results on Thursday, August 1st. The company reported C$0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.12 by C$0.02. AltaGas had a return on equity of 5.78% and a net margin of 3.58%. The business had revenue of C$2.78 billion for the quarter, compared to analyst estimates of C$2.54 billion. Equities analysts forecast that AltaGas will post 2.299654 earnings per share for the current fiscal year.

AltaGas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were given a dividend of $0.298 per share. The ex-dividend date was Monday, September 16th. This represents a $1.19 annualized dividend and a dividend yield of 3.56%. AltaGas’s dividend payout ratio is presently 82.07%.

Insider Transactions at AltaGas

In other news, Director Aaron Bishop sold 19,820 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of C$33.58, for a total transaction of C$665,555.60. In other AltaGas news, Senior Officer Bertram Grant Bradley sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$33.61, for a total value of C$252,075.00. Also, Director Aaron Bishop sold 19,820 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of C$33.58, for a total value of C$665,555.60. Over the last three months, insiders sold 33,320 shares of company stock worth $1,125,051. Company insiders own 0.58% 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 1.6 million customers.