AltaGas Ltd. (TSE:ALA) Director Derek Watson Evans Buys 19,239 Shares

AltaGas Ltd. (TSE:ALA) Director Derek Watson Evans purchased 19,239 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were bought at an average cost of C$38.98 per share, with a total value of C$749,936.22.

AltaGas Stock Performance

Shares of TSE:ALA traded down C$0.08 during trading on Thursday, hitting C$38.90. 159,494 shares of the company traded hands, compared to its average volume of 896,610. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26. The business’s fifty day moving average is C$35.68 and its 200-day moving average is C$34.50. The stock has a market capitalization of C$11.58 billion, a price-to-earnings ratio of 22.55, a PEG ratio of -4.97 and a beta of 1.23. AltaGas Ltd. has a one year low of C$28.76 and a one year high of C$39.28.

AltaGas (TSE:ALA) last released its quarterly earnings data 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%. As a group, equities analysts predict that AltaGas Ltd. will post 2.3006093 earnings per share for the current fiscal 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 given a dividend of $0.315 per share. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from AltaGas’s previous quarterly dividend of $0.30. This represents a $1.26 annualized dividend and a dividend yield of 3.24%. AltaGas’s payout ratio is currently 68.98%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ALA. CIBC raised their price objective 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 AltaGas from C$40.00 to C$42.00 in a research note on Monday, March 10th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, AltaGas presently 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.