AltaGas Ltd. (TSE:ALA) Director Peter James Ledig Sells 13,361 Shares of Stock

AltaGas Ltd. (TSE:ALA) Director Peter James Ledig sold 13,361 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of C$40.04, for a total transaction of C$534,974.44.

Peter James Ledig also recently made the following trade(s):

• On Tuesday, March 11th, Peter James Ledig sold 25,200 shares of AltaGas stock. The shares were sold at an average price of C$38.35, for a total value of C$966,420.00.

AltaGas Trading Down 5.4 %

TSE ALA opened at C$37.01 on Friday. The stock has a market cap of C$11.02 billion, a price-to-earnings ratio of 21.45, a PEG ratio of -4.97 and a beta of 1.23. AltaGas Ltd. has a twelve month low of C$28.76 and a twelve month high of C$40.17. 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 firm’s 50 day moving average price is C$36.29 and its two-hundred day moving average price is C$34.74.

AltaGas (TSE:ALA) last posted its earnings results 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%. Equities analysts anticipate that AltaGas Ltd. will post 2.3006093 EPS for the current year.

AltaGas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were paid a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Monday, March 17th. This is a boost from AltaGas’s previous quarterly dividend of $0.30. AltaGas’s dividend payout ratio (DPR) is presently 68.98%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ALA. CIBC upped their target price on shares of AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th. Scotiabank increased their price target on AltaGas from C$40.00 to C$42.00 in a report on Monday, March 10th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average 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.