AltaGas Ltd. (TSE:ALA) Senior Officer Corine Renae Knight Bushfield Sells 144,064 Shares

AltaGas Ltd. (TSE:ALA) Senior Officer Corine Renae Knight Bushfield sold 144,064 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of C$38.00, for a total value of C$5,474,432.00.

AltaGas Trading Down 0.7 %

TSE:ALA opened at C$38.03 on Friday. The stock has a market cap of C$11.32 billion, a price-to-earnings ratio of 22.04, 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. The company’s 50 day moving average price is C$34.96 and its 200-day moving average price is C$34.25. AltaGas Ltd. has a 52 week low of C$28.76 and a 52 week high of C$38.61.

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 return on equity of 6.36% and a net margin of 4.04%. On average, equities research analysts forecast that AltaGas Ltd. will post 2.3006093 earnings per share for the current fiscal year.

AltaGas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be issued a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 3.31%. This is an increase 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 (DPR) is presently 68.98%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ALA shares. Scotiabank lifted their price target on AltaGas from C$40.00 to C$42.00 in a research report on Monday, March 10th. CIBC lifted their price target on shares of AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.