James Harbilas Sells 15,200 Shares of AltaGas Ltd. (TSE:ALA) Stock

AltaGas Ltd. (TSE:ALA) Senior Officer James Harbilas sold 15,200 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of C$38.40, for a total transaction of C$583,680.00.

AltaGas Stock Down 0.2 %

Shares of ALA stock traded down C$0.09 during trading hours on Monday, reaching C$38.42. 81,385 shares of the company’s stock were exchanged, compared to its average volume of 905,367. AltaGas Ltd. has a fifty-two week low of C$28.76 and a fifty-two week high of C$38.75. The stock’s 50 day moving average is C$35.37 and its 200-day moving average is C$34.41. 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 has a market cap of C$11.44 billion, a price-to-earnings ratio of 22.27, a P/E/G ratio of -4.97 and a beta of 1.23.

AltaGas (TSE:ALA) last announced its earnings results on Friday, March 7th. The company reported C$0.76 earnings per share (EPS) for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. Analysts predict that AltaGas Ltd. will post 2.3006093 earnings per share for the current fiscal year.

AltaGas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be given a $0.315 dividend. 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 3.28%. The ex-dividend date of this dividend is Monday, March 17th. AltaGas’s dividend payout ratio (DPR) is presently 68.98%.

Analyst Ratings Changes

A number of equities analysts recently commented on ALA shares. Scotiabank boosted their price objective on shares of AltaGas from C$40.00 to C$42.00 in a research note on Monday, March 10th. CIBC boosted their price target on AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Thursday, January 9th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus 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.