AltaGas Ltd. (TSE:ALA) Senior Officer Sells C$70,236.00 in Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Donald Mark Jenkins sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of C$39.02, for a total transaction of C$70,236.00.

AltaGas Trading Down 2.0 %

ALA stock opened at C$37.96 on Friday. The firm has a fifty day moving average price of C$38.69 and a 200 day moving average price of C$35.65. AltaGas Ltd. has a fifty-two week low of C$29.67 and a fifty-two week high of C$40.98. The firm has a market cap of C$11.30 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03.

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

AltaGas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were issued a $0.315 dividend. This is a boost from AltaGas’s previous quarterly dividend of $0.30. The ex-dividend date was Monday, March 17th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.32%. AltaGas’s payout ratio is 68.98%.

Analyst Upgrades and Downgrades

ALA has been the topic of a number of analyst reports. Veritas upgraded shares of AltaGas to a “strong sell” rating in a research note on Friday, May 2nd. Royal Bank of Canada boosted their price objective on AltaGas from C$40.00 to C$43.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Jefferies Financial Group increased their target price on AltaGas from C$38.00 to C$40.00 in a research report on Wednesday, April 30th. BMO Capital Markets boosted their price target on AltaGas from C$40.00 to C$43.00 in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of AltaGas from C$39.00 to C$41.00 in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, AltaGas presently has an average rating of “Moderate Buy” and a consensus target price of C$41.33.

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.