AltaGas Ltd. (TSE:ALA) Senior Officer Sells C$583,680.00 in Stock

AltaGas Ltd. (TSE:ALA) Senior Officer James Harbilas sold 15,200 shares of AltaGas stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of C$38.40, for a total value of C$583,680.00.

AltaGas Trading Down 0.2 %

ALA stock traded down C$0.09 during trading on Monday, hitting C$38.42. The company had a trading volume of 81,385 shares, compared to its average volume of 905,367. AltaGas Ltd. has a 52-week low of C$28.76 and a 52-week high of C$38.75. The company has a 50 day simple moving average of C$35.37 and a 200-day simple moving average of C$34.41. The firm has a market capitalization of C$11.44 billion, a P/E ratio of 22.27, 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 1.03 and a debt-to-equity ratio of 135.26.

AltaGas (TSE:ALA) last issued its earnings results on Friday, March 7th. The company reported C$0.76 EPS for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%. As a group, research analysts forecast that AltaGas Ltd. will post 2.3006093 earnings per share for the current fiscal year.

AltaGas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be issued a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 3.28%. This is a boost from AltaGas’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, March 17th. AltaGas’s dividend payout ratio is currently 68.98%.

Analysts Set New Price Targets

ALA has been the subject of a number of analyst reports. Scotiabank raised their price target on AltaGas from C$40.00 to C$42.00 in a research report on Monday, March 10th. CIBC raised their target price on shares of AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a report on Thursday, January 9th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$39.11.

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.