AltaGas Ltd. (TSE:ALA) Senior Officer Sells C$418,732.80 in Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Donald Mark Jenkins sold 12,352 shares of AltaGas stock in a transaction dated Monday, January 13th. The shares were sold at an average price of C$33.90, for a total transaction of C$418,732.80.

AltaGas Trading Up 1.9 %

ALA opened at C$34.22 on Friday. The firm has a 50 day simple moving average of C$33.68 and a 200 day simple moving average of C$33.19. AltaGas Ltd. has a fifty-two week low of C$26.91 and a fifty-two week high of C$35.77. The company has a market cap of C$10.18 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The company has a debt-to-equity ratio of 115.50, a current ratio of 0.85 and a quick ratio of 0.44.

AltaGas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a $0.298 dividend. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Monday, December 16th. AltaGas’s dividend payout ratio (DPR) is currently 82.07%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ALA. CIBC lifted their target price on shares of AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research note on Thursday, January 9th. Jefferies Financial Group lifted their price objective on AltaGas from C$37.00 to C$39.00 and gave the company a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. cut AltaGas from an “overweight” rating to a “neutral” rating and increased their target price for the stock from C$36.00 to C$37.00 in a report on Wednesday, October 23rd. Royal Bank of Canada upped their price target on shares of AltaGas from C$37.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Finally, Scotiabank raised their price objective on shares of AltaGas from C$38.00 to C$39.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, AltaGas has a consensus rating of “Moderate Buy” and an average target price of C$38.30.

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.