AltaGas (TSE:ALA – Free Report) had its target price upped by Scotiabank from C$38.00 to C$39.00 in a research report report published on Thursday, MarketBeat Ratings reports. They currently have an outperform rating on the stock.
A number of other brokerages have also weighed in on ALA. Royal Bank of Canada lifted their price target on shares of AltaGas from C$37.00 to C$40.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. National Bankshares upped their target price on AltaGas from C$36.00 to C$39.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. CIBC upped their target price on AltaGas from C$38.00 to C$40.00 in a research report on Monday, July 15th. JPMorgan Chase & Co. downgraded AltaGas from an “overweight” rating to a “neutral” rating and upped their target price for the stock from C$36.00 to C$37.00 in a research report on Wednesday. Finally, ATB Capital set a C$36.00 target price on AltaGas and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$38.10.
Get Our Latest Analysis on AltaGas
AltaGas Stock Performance
AltaGas (TSE:ALA – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.14 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.12 by C$0.02. The company had revenue of C$2.78 billion for the quarter, compared to analyst estimates of C$2.54 billion. AltaGas had a net margin of 3.58% and a return on equity of 5.78%. Research analysts forecast that AltaGas will post 2.3006093 earnings per share for the current fiscal year.
AltaGas Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were issued a $0.298 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.19 dividend on an annualized basis and a dividend yield of ∞. AltaGas’s dividend payout ratio (DPR) is 82.07%.
Insider Buying and Selling
In other AltaGas news, Director Aaron Bishop sold 19,820 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of C$33.58, for a total transaction of C$665,555.60. In related news, Senior Officer Bertram Grant Bradley sold 7,500 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of C$33.61, for a total transaction of C$252,075.00. Also, Director Aaron Bishop sold 19,820 shares of the company’s stock in a transaction 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. Insiders have sold 33,320 shares of company stock worth $1,125,051 over the last ninety days. 0.58% of the stock is 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.
Recommended Stories
- Five stocks we like better than AltaGas
- What Does Downgrade Mean in Investing?
- Tractor Supply Stock Pulls Back: A Prime Buying Opportunity
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- The Downtrend in UPS Stock Isn’t Over Yet
- Roth IRA Calculator: Calculate Your Potential Returns
- Maximize Portfolio Income with These 3 Dividend ETFs
Receive News & Ratings for AltaGas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AltaGas and related companies with MarketBeat.com's FREE daily email newsletter.