Peter James Ledig Sells 25,200 Shares of AltaGas Ltd. (TSE:ALA) Stock

AltaGas Ltd. (TSE:ALA) Director Peter James Ledig sold 25,200 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of C$38.35, for a total transaction of C$966,420.00.

AltaGas Stock Up 0.3 %

Shares of TSE:ALA opened at C$38.30 on Friday. The firm has a 50 day simple moving average of C$34.87 and a 200 day simple moving average of C$34.21. AltaGas Ltd. has a 52 week low of C$28.63 and a 52 week high of C$38.61. 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 company has a market cap of C$11.40 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23.

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

AltaGas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.298 per share. The ex-dividend date was Monday, December 16th. This represents a $1.19 dividend on an annualized basis and a yield of 3.11%. AltaGas’s payout ratio is presently 68.98%.

Wall Street Analyst Weigh In

A number of analysts recently commented on ALA shares. CIBC boosted their target price 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 lifted their price target on shares of AltaGas from C$40.00 to C$42.00 in a research report on Monday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, AltaGas presently has a consensus rating of “Moderate Buy” and a consensus target price 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.