AltaGas (TSE:ALA) Hits New 1-Year High – What’s Next?

Shares of AltaGas Ltd. (TSE:ALA) hit a new 52-week high during trading on Thursday . The company traded as high as C$44.40 and last traded at C$44.38, with a volume of 1583963 shares trading hands. The stock had previously closed at C$42.77.

Wall Street Analyst Weigh In

ALA has been the subject of a number of analyst reports. Canadian Imperial Bank of Commerce boosted their price objective on shares of AltaGas from C$47.00 to C$50.00 in a report on Wednesday, December 17th. ATB Capital raised their price objective on AltaGas from C$48.00 to C$49.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 23rd. Royal Bank Of Canada increased their price target on AltaGas from C$44.00 to C$48.00 in a report on Friday, October 31st. JPMorgan Chase & Co. lifted their price objective on AltaGas from C$45.00 to C$47.00 in a report on Wednesday, December 3rd. Finally, National Bank Financial boosted their price objective on AltaGas from C$46.00 to C$50.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$48.11.

AltaGas Stock Up 3.8%

The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. The company has a market capitalization of C$13.81 billion, a P/E ratio of 17.82, a PEG ratio of -4.97 and a beta of 0.37. The firm’s 50 day moving average price is C$41.57 and its two-hundred day moving average price is C$41.89.

AltaGas (TSE:ALA) last announced its earnings results on Thursday, October 30th. The company reported C($0.08) EPS for the quarter. The business had revenue of C$2.60 billion for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. Equities research analysts forecast that AltaGas Ltd. will post 2.3006093 EPS for the current year.

AltaGas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.315 per share. The ex-dividend date was Tuesday, December 16th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.8%. AltaGas’s dividend payout ratio is currently 49.90%.

AltaGas Company Profile

AltaGas Ltd owns and operates a diversified basket of energy infrastructure businesses. Business is conducted through four segments: Midstream, power, utilities and corporate. Utility business owns and operates rate-regulated natural gas distribution assets across North America. Midstream business subsequent to the sale of non-core midstream assets in Canada and also engaged in the natural gas liquid processing and extraction, transportation, and storage. Natural gas is sold and purchased for both commercial and industrial users.