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 company’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 transaction 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 shares were sold at an average price of C$38.00, for a total transaction of C$5,474,432.00.

AltaGas Price Performance

AltaGas stock opened at C$37.76 on Thursday. The stock has a 50-day moving average price of C$35.19 and a two-hundred day moving average price of C$34.33. AltaGas Ltd. has a 12 month low of C$28.76 and a 12 month high of C$38.61. The company has a market capitalization of C$11.24 billion, a PE ratio of 21.89, a P/E/G ratio of -4.97 and a beta of 1.23. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26.

AltaGas (TSE:ALA) last issued 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%. Analysts expect that AltaGas Ltd. will post 2.3006093 EPS for the current year.

AltaGas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend 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 payout ratio is 68.98%.

Analysts Set New Price Targets

ALA has been the topic of a number of research analyst reports. Scotiabank raised their target price on AltaGas from C$40.00 to C$42.00 in a report on Monday, March 10th. CIBC raised their price objective on AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research note on Thursday, January 9th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$39.11.

About AltaGas

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.