AltaGas Ltd. (TSE:ALA)’s share price hit a new 52-week high on Tuesday . The company traded as high as C$18.00 and last traded at C$21.27, with a volume of 583237 shares changing hands. The stock had previously closed at C$21.09.
ALA has been the subject of a number of research reports. BMO Capital Markets increased their price target on shares of AltaGas from C$23.00 to C$24.00 in a report on Friday, December 11th. Royal Bank of Canada increased their price target on shares of AltaGas from C$21.00 to C$22.00 and gave the company an “outperform” rating in a report on Monday, March 1st. Credit Suisse Group increased their price target on shares of AltaGas to C$25.00 and gave the company an “outperform” rating in a report on Wednesday, February 3rd. National Bank Financial increased their price target on shares of AltaGas from C$21.00 to C$22.00 and gave the company an “outperform” rating in a report on Tuesday, December 15th. Finally, Canaccord Genuity raised their price objective on shares of AltaGas from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a report on Thursday, January 7th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. AltaGas currently has an average rating of “Buy” and a consensus target price of C$23.35.
The stock has a market capitalization of C$5.95 billion and a P/E ratio of 12.24. The firm’s fifty day moving average is C$20.44 and its 200-day moving average is C$18.78. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 112.79.
The company also recently declared a monthly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 15th will be issued a dividend of $0.0833 per share. This represents a $1.00 annualized dividend and a yield of 4.70%. The ex-dividend date of this dividend is Wednesday, March 24th. AltaGas’s dividend payout ratio is currently 55.39%.
AltaGas Company Profile (TSE:ALA)
AltaGas Ltd. operates as a diversified energy infrastructure company in North America. The company operates through two segments, Utilities and Midstream. The Utilities segment owns and operates regulated natural gas distribution utilities in Michigan, Alaska, the District of Columbia, Maryland, and Virginia; and two regulated natural gas storage utilities in the United States serving approximately 1.7 million customers.
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