AltaGas Ltd. (TSE:ALA) Senior Officer Sells C$4,137,240.90 in Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Corine Renae Knight Bushfield sold 108,589 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of C$38.10, for a total value 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 value of C$5,474,432.00.

AltaGas Trading Up 0.1 %

Shares of AltaGas stock opened at C$37.76 on Thursday. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03. The firm has a 50-day moving average of C$35.19 and a 200-day moving average of C$34.33. AltaGas Ltd. has a 52-week low of C$28.76 and a 52-week high of C$38.61. The stock has a market cap of C$11.24 billion, a PE ratio of 21.89, a PEG ratio of -4.97 and a beta of 1.23.

AltaGas (TSE:ALA) last posted its quarterly earnings data 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%. As a group, sell-side analysts forecast that AltaGas Ltd. will post 2.3006093 EPS for the current year.

AltaGas Increases Dividend

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

Analysts Set New Price Targets

ALA has been the subject of several research reports. Scotiabank raised their price target on AltaGas from C$40.00 to C$42.00 in a report on Monday, March 10th. CIBC increased their price objective 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 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.com, AltaGas currently has a consensus rating of “Moderate Buy” and an average price target of C$39.11.

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.