Vernon Dai-Chung Yu Purchases 7,600 Shares of AltaGas Ltd. (TSE:ALA) Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Vernon Dai-Chung Yu bought 7,600 shares of the stock in a transaction dated Monday, November 4th. The shares were purchased at an average cost of C$33.12 per share, for a total transaction of C$251,719.60.

AltaGas Stock Performance

The stock has a market capitalization of C$9.85 billion, a P/E ratio of 22.84, a PEG 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 Ltd. has a 1-year low of C$26.10 and a 1-year high of C$35.77. The stock’s 50-day moving average is C$34.07 and its 200-day moving average is C$32.01.

AltaGas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.298 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.19 annualized dividend and a dividend yield of ∞. AltaGas’s payout ratio is currently 82.07%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ALA shares. ATB Capital set a C$36.00 price objective on shares of AltaGas and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Raymond James upped their target price on shares of AltaGas from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Scotiabank lifted their price target on AltaGas from C$38.00 to C$39.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Royal Bank of Canada increased their price objective on AltaGas from C$37.00 to C$40.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Finally, National Bankshares lifted their target price on AltaGas from C$36.00 to C$39.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, AltaGas has an average rating of “Moderate Buy” and an average target price of C$38.10.

AltaGas Company Profile

AltaGas Ltd. operates as an energy infrastructure company in North America. The company operates through Utilities and Midstream segments. The Utilities segment owns and operates franchised, cost-of-service, rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.6 million customers.