AltaGas Ltd. (TSE:ALA) Senior Officer Sells 92,000 Shares

AltaGas Ltd. (TSE:ALA) Senior Officer Randy Warren Toone sold 92,000 shares of the company’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of C$39.19, for a total transaction of C$3,605,480.00.

AltaGas Stock Performance

TSE ALA opened at C$37.01 on Monday. The company has a market capitalization of C$11.02 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03. AltaGas Ltd. has a 52-week low of C$28.76 and a 52-week high of C$40.17. The company has a 50-day simple moving average of C$36.29 and a 200 day simple moving average of C$34.74.

AltaGas (TSE:ALA) last issued its quarterly 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%. On average, research analysts predict that AltaGas Ltd. will post 2.3006093 EPS for the current year.

AltaGas Increases Dividend

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

Wall Street Analysts Forecast Growth

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