Insider Buying: AltaGas Ltd. (TSE:ALA) Senior Officer Buys 7,600 Shares of Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Vernon Dai-Chung Yu purchased 7,600 shares of the stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of C$32.97 per share, with a total value of C$250,549.20.

Vernon Dai-Chung Yu also recently made the following trade(s):

• On Monday, November 4th, Vernon Dai-Chung Yu purchased 7,600 shares of AltaGas stock. The shares were acquired at an average cost of C$33.12 per share, with a total value of C$251,719.60.

AltaGas Trading Up 0.3 %

Shares of TSE ALA traded up C$0.11 during trading on Friday, reaching C$32.84. The company had a trading volume of 180,021 shares, compared to its average volume of 890,007. The company’s fifty day moving average price is C$34.03 and its 200-day moving average price is C$32.74. AltaGas Ltd. has a 12 month low of C$26.87 and a 12 month high of C$35.77. The stock has a market cap of C$9.77 billion, a P/E ratio of 22.57, a PEG ratio of -4.97 and a beta of 1.23. The company has a quick ratio of 0.44, a current ratio of 0.85 and a debt-to-equity ratio of 115.50.

AltaGas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.298 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.19 annualized dividend and a dividend yield of 3.63%. AltaGas’s payout ratio is 82.07%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ALA shares. ATB Capital set a C$36.00 price target on AltaGas and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Jefferies Financial Group upped their target price on AltaGas from C$37.00 to C$39.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Royal Bank of Canada upped their target price on AltaGas from C$37.00 to C$40.00 and gave the stock 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 report on Friday, August 23rd. Finally, Scotiabank upped their target price on AltaGas from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, AltaGas has an average rating of “Moderate Buy” and an average price target of C$38.10.

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.