AltaGas (TSE:ALA) Reaches New 12-Month High – Should You Buy?

AltaGas Ltd. (TSE:ALA) reached a new 52-week high during trading on Thursday . The company traded as high as C$35.49 and last traded at C$35.49, with a volume of 77805 shares trading hands. The stock had previously closed at C$35.15.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Raymond James upped their price target on AltaGas from C$35.00 to C$37.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Jefferies Financial Group upped their price target on AltaGas from C$37.00 to C$39.00 and gave the company a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. upped their price target on AltaGas from C$33.00 to C$36.00 in a research report on Friday, July 19th. ATB Capital set a C$36.00 target price on AltaGas and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Finally, Royal Bank of Canada upped their target price on AltaGas from C$37.00 to C$40.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, AltaGas currently has an average rating of “Buy” and an average target price of C$37.90.

AltaGas Trading Up 0.8 %

The business has a 50 day moving average of C$33.79 and a two-hundred day moving average of C$31.57. The company has a debt-to-equity ratio of 115.50, a quick ratio of 0.44 and a current ratio of 0.85. The firm has a market capitalization of C$10.54 billion, a price-to-earnings ratio of 23.90, a P/E/G ratio of -4.97 and a beta of 1.23.

AltaGas (TSE:ALA) last posted 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 business had revenue of C$2.78 billion for the quarter, compared to the consensus estimate of C$2.54 billion. Equities analysts predict that AltaGas Ltd. will post 2.3006093 EPS for the current year.

AltaGas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were paid a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Monday, September 16th. AltaGas’s dividend payout ratio (DPR) is currently 82.07%.

Insider Transactions at AltaGas

In other news, Senior Officer Randy Warren Toone sold 3,000 shares of the stock in a transaction that occurred 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 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 company’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. Insiders sold a total of 33,320 shares of company stock valued at $1,125,051 over the last ninety days. 0.58% of the stock is currently owned by insiders.

AltaGas Company Profile

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.