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

AltaGas Ltd. (TSE:ALA)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as C$56.77 and last traded at C$56.72, with a volume of 130855 shares traded. The stock had previously closed at C$56.22.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. National Bank Financial boosted their price objective on shares of AltaGas from C$52.00 to C$60.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. ATB Cormark Capital Markets lifted their price target on AltaGas from C$54.00 to C$56.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. boosted their price target on AltaGas from C$49.00 to C$52.00 in a report on Tuesday, April 14th. Scotiabank increased their price objective on AltaGas from C$57.00 to C$62.00 and gave the stock a “sector outperform” rating in a report on Tuesday. Finally, Royal Bank Of Canada lifted their target price on AltaGas from C$50.00 to C$55.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$54.88.

AltaGas Price Performance

The firm has a market cap of C$17.82 billion, a price-to-earnings ratio of 34.87, a PEG ratio of -4.97 and a beta of 0.35. The company’s fifty day moving average is C$54.27 and its 200 day moving average is C$49.06. The company has a quick ratio of 0.43, a current ratio of 0.88 and a debt-to-equity ratio of 115.95.

AltaGas (TSE:ALA) last issued its quarterly earnings results on Thursday, April 30th. The company reported C$1.33 earnings per share (EPS) for the quarter. AltaGas had a net margin of 4.02% and a return on equity of 5.92%. The firm had revenue of C$3.97 billion for the quarter. On average, equities research analysts predict that AltaGas Ltd. will post 2.3006093 EPS for the current year.

AltaGas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a $0.334 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $1.34 annualized dividend and a dividend yield of 2.3%. AltaGas’s dividend payout ratio (DPR) is presently 77.99%.

About AltaGas

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.