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 stock in a transaction dated Friday, March 14th. The shares were 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

Shares of TSE ALA traded down C$0.38 during mid-day trading on Monday, reaching C$37.34. The company had a trading volume of 1,585,513 shares, compared to its average volume of 905,264. The firm has a market cap of C$11.12 billion, a price-to-earnings ratio of 21.64, a PEG ratio of -4.97 and a beta of 1.23. The business’s 50-day simple moving average is C$34.96 and its 200 day simple moving average is C$34.26. AltaGas Ltd. has a one year low of C$28.76 and a one year high of C$38.61. 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 (TSE:ALA) last released its earnings results on Friday, March 7th. The company reported C$0.76 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 earnings per share for the current fiscal year.

AltaGas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be paid a dividend of $0.315 per share. The ex-dividend date is Monday, March 17th. This is a boost from AltaGas’s previous quarterly dividend of $0.30. This represents a $1.26 annualized dividend and a yield of 3.37%. AltaGas’s dividend payout ratio is presently 68.98%.

Analyst Ratings Changes

ALA has been the topic of several research reports. CIBC upped their target price on 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 upped their price objective on AltaGas from C$40.00 to C$42.00 in a report on Monday, March 10th. One 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, the company presently has an average rating of “Moderate Buy” and a consensus 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.