ATB Capital Analysts Give AltaGas (TSE:ALA) a C$36.00 Price Target

ATB Capital set a C$36.00 target price on AltaGas (TSE:ALA) in a research report sent to investors on Tuesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Other research analysts have also issued research reports about the company. BMO Capital Markets increased their target price on AltaGas from C$37.00 to C$40.00 in a research report on Thursday, September 5th. 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. Jefferies Financial Group boosted their target price on shares of AltaGas from C$34.00 to C$37.00 and gave the stock a buy rating in a research note on Monday, July 29th. JPMorgan Chase & Co. raised their price target on shares of AltaGas from C$33.00 to C$36.00 in a research note on Friday, July 19th. Finally, Royal Bank of Canada lifted 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. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of Buy and a consensus target price of C$37.40.

AltaGas Stock Down 0.2 %

ALA stock opened at C$33.40 on Tuesday. The firm’s fifty day moving average is C$33.32 and its 200 day moving average is C$31.22. The firm has a market cap of C$9.93 billion, a PE ratio of 23.03, a P/E/G ratio of -4.97 and a beta of 1.24. AltaGas has a one year low of C$24.67 and a one year high of C$35.49. The company has a debt-to-equity ratio of 115.50, a quick ratio of 0.44 and a current ratio of 0.85.

AltaGas (TSE:ALA) last released its quarterly earnings results on Thursday, August 1st. The company reported C$0.14 earnings per share 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 company had revenue of C$2.78 billion during the quarter, compared to analysts’ expectations of C$2.54 billion. On average, research analysts forecast that AltaGas will post 2.299654 EPS for the current year.

AltaGas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be given a dividend of $0.298 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.19 dividend on an annualized basis and a yield of 3.57%. AltaGas’s payout ratio is 82.07%.

Insider Activity

In related 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. In other AltaGas news, Senior Officer Bertram Grant Bradley sold 7,500 shares of the business’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, Senior Officer Randy Warren Toone sold 3,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of C$33.82, for a total value of C$101,460.00. In the last quarter, insiders have sold 33,320 shares of company stock valued at $1,125,051. 0.58% of the stock is currently owned by insiders.

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.