Corine Renae Knight Bushfield Sells 108,589 Shares of AltaGas Ltd. (TSE:ALA) Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Corine Renae Knight Bushfield sold 108,589 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of C$38.10, for a total transaction of C$4,137,240.90.

Corine Renae Knight Bushfield also recently made the following trade(s):

• On Wednesday, March 12th, Corine Renae Knight Bushfield sold 144,064 shares of AltaGas stock. The stock was sold at an average price of C$38.00, for a total transaction of C$5,474,432.00.

AltaGas Trading Up 1.0 %

Shares of ALA stock opened at C$37.73 on Wednesday. The company has a debt-to-equity ratio of 135.26, a current ratio of 1.03 and a quick ratio of 0.44. The firm has a market cap of C$11.23 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The company has a 50-day moving average of C$35.12 and a two-hundred day moving average of C$34.31. AltaGas Ltd. has a 1-year low of C$28.76 and a 1-year high of C$38.61.

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

AltaGas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be paid a $0.315 dividend. This is a positive change from AltaGas’s previous quarterly dividend of $0.30. The ex-dividend date is Monday, March 17th. This represents a $1.26 annualized dividend and a dividend yield of 3.34%. AltaGas’s dividend payout ratio (DPR) is presently 68.98%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. CIBC raised their price target 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. Scotiabank raised their target price on AltaGas from C$40.00 to C$42.00 in a research note on Monday, March 10th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.