Insider Selling: AltaGas Ltd. (TSE:ALA) Director Sells 25,200 Shares of Stock

AltaGas Ltd. (TSE:ALA) Director Peter James Ledig sold 25,200 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of C$38.35, for a total transaction of C$966,420.00.

AltaGas Stock Performance

TSE:ALA traded down C$0.31 during trading hours on Wednesday, hitting C$38.05. 595,495 shares of the company traded hands, compared to its average volume of 864,870. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. AltaGas Ltd. has a twelve month low of C$28.63 and a twelve month high of C$38.61. The firm has a 50-day moving average of C$34.68 and a 200 day moving average of C$34.15. The stock has a market capitalization of C$11.33 billion, a price-to-earnings ratio of 22.05, a P/E/G ratio of -4.97 and a beta of 1.23.

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

AltaGas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend was Monday, December 16th. AltaGas’s dividend payout ratio is 68.98%.

Analyst Upgrades and Downgrades

ALA has been the topic of several recent analyst reports. Scotiabank upped their price target on AltaGas from C$40.00 to C$42.00 in a research report on Monday. CIBC raised their price target on shares of AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a report on Thursday, January 9th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$39.11.

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.