AltaGas (TSE:ALA) PT Raised to C$39.00 at Jefferies Financial Group

AltaGas (TSE:ALA) had its target price upped by Jefferies Financial Group from C$37.00 to C$39.00 in a research note published on Monday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

ALA has been the subject of several other research reports. Scotiabank increased their price objective on shares of AltaGas from C$36.00 to C$38.00 and gave the company an outperform rating in a report on Tuesday, August 20th. CIBC increased their price target on AltaGas from C$38.00 to C$40.00 in a research note on Monday, July 15th. ATB Capital set a C$36.00 price objective on AltaGas and gave the stock an outperform rating in a research note on Tuesday, September 24th. Royal Bank of Canada upped their price objective on AltaGas from C$34.00 to C$37.00 and gave the stock an outperform rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of AltaGas from C$33.00 to C$36.00 in a report on Friday, July 19th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of C$37.90.

AltaGas Stock Down 0.7 %

Shares of ALA opened at C$33.57 on Monday. AltaGas has a 12-month low of C$24.67 and a 12-month high of C$35.49. The company has a current ratio of 0.85, a quick ratio of 0.44 and a debt-to-equity ratio of 115.50. The company has a market capitalization of C$9.98 billion, a PE ratio of 23.15, a price-to-earnings-growth ratio of -4.97 and a beta of 1.24. The business’s 50 day moving average is C$33.48 and its 200 day moving average is C$31.31.

AltaGas (TSE:ALA) last released its quarterly earnings data on Thursday, August 1st. The company reported C$0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.12 by C$0.02. AltaGas had a net margin of 3.58% and a return on equity of 5.78%. The firm had revenue of C$2.78 billion for the quarter, compared to analysts’ expectations of C$2.54 billion. Research analysts expect that AltaGas will post 2.299654 earnings per share for the current fiscal year.

AltaGas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were given a $0.298 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.19 dividend on an annualized basis and a yield of 3.55%. AltaGas’s dividend payout ratio is presently 82.07%.

Insider Buying and Selling at AltaGas

In other news, Senior Officer Bertram Grant Bradley sold 7,500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of C$33.61, for a total value of C$252,075.00. In other news, Senior Officer Bertram Grant Bradley sold 7,500 shares of the 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, Senior Officer Randy Warren Toone sold 3,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of C$33.82, for a total value of C$101,460.00. Insiders have sold 33,320 shares of company stock worth $1,125,051 over the last quarter. Insiders own 0.58% of the company’s stock.

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.