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

AltaGas Ltd. (TSE:ALA) Director Derek Watson Evans bought 19,239 shares of AltaGas stock in a transaction that occurred on Wednesday, March 26th. The shares were acquired at an average price of C$38.98 per share, for a total transaction of C$749,936.22.

AltaGas Stock Down 0.8 %

AltaGas stock opened at C$38.67 on Friday. The stock has a market cap of C$11.51 billion, a price-to-earnings ratio of 22.41, a PEG 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. The company’s 50-day moving average price is C$35.77 and its two-hundred day moving average price is C$34.54. AltaGas Ltd. has a 52 week low of C$28.76 and a 52 week high of C$39.28.

AltaGas (TSE:ALA) last posted 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%. On average, analysts expect that AltaGas Ltd. will post 2.3006093 EPS for the current fiscal year.

AltaGas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be paid a $0.315 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.26 dividend on an annualized basis and a yield of 3.26%. This is a boost from AltaGas’s previous quarterly dividend of $0.30. AltaGas’s dividend payout ratio (DPR) is currently 68.98%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. CIBC raised their target price on shares of AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Thursday, January 9th. Scotiabank lifted their price target on shares of AltaGas from C$40.00 to C$42.00 in a report on Monday, March 10th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, AltaGas currently has a consensus rating of “Moderate Buy” and an average target price 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.