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

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

Several other research analysts also recently commented on ALA. National Bankshares lifted their target price on AltaGas from C$36.00 to C$39.00 and gave the stock an outperform rating in a report on Friday, August 23rd. Raymond James lifted their price objective on AltaGas from C$35.00 to C$37.00 and gave the stock an outperform rating in a research note on Friday, August 2nd. Jefferies Financial Group increased their target price on shares of AltaGas from C$34.00 to C$37.00 and gave the company a buy rating in a research report on Monday, July 29th. Royal Bank of Canada boosted their price target on shares of AltaGas from C$34.00 to C$37.00 and gave the stock an outperform rating in a research report on Friday, August 2nd. Finally, Scotiabank increased their price objective on shares of AltaGas from C$36.00 to C$38.00 and gave the stock an outperform rating in a research report on Tuesday, August 20th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of Buy and an average target price of C$37.40.

AltaGas Stock Down 0.3 %

Shares of TSE ALA opened at C$33.31 on Tuesday. The company has a 50 day simple moving average of C$33.32 and a 200 day simple moving average of C$31.22. 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 has a 1 year low of C$24.67 and a 1 year high of C$35.49. The firm has a market cap of C$9.91 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of -4.97 and a beta of 1.24.

AltaGas (TSE:ALA) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of C$2.54 billion. On average, research analysts forecast that AltaGas will post 2.299654 EPS for the current year.

AltaGas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were issued a $0.298 dividend. This represents a $1.19 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Monday, September 16th. AltaGas’s payout ratio is 82.07%.

Insider Activity

In other news, Director Aaron Bishop sold 19,820 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of C$33.58, for a total value of C$665,555.60. In other AltaGas news, Director Aaron Bishop sold 19,820 shares of the 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. Also, Senior Officer Randy Warren Toone sold 3,000 shares of the firm’s stock in a transaction that occurred 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. Over the last 90 days, insiders have sold 33,320 shares of company stock worth $1,125,051. Company 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.