Insider Selling: AltaGas Ltd. (TSE:ALA) Senior Officer Sells 15,000 Shares of Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Bertram Grant Bradley sold 15,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of C$30.59, for a total value of C$458,850.00.

Bertram Grant Bradley also recently made the following trade(s):

• On Monday, June 3rd, Bertram Grant Bradley sold 10,000 shares of AltaGas stock. The stock was sold at an average price of C$30.96, for a total value of C$309,600.00.

AltaGas Price Performance

Shares of ALA stock traded up C$0.03 during midday trading on Wednesday, reaching C$30.29. 114,211 shares of the company traded hands, compared to its average volume of 864,166. The firm’s 50 day simple moving average is C$30.42 and its two-hundred day simple moving average is C$29.13. AltaGas Ltd. has a 1-year low of C$22.97 and a 1-year high of C$31.50. The company has a debt-to-equity ratio of 117.56, a current ratio of 1.01 and a quick ratio of 0.44. The firm has a market cap of C$8.97 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of -4.97 and a beta of 1.22.

AltaGas (TSE:ALA) last posted its quarterly earnings results on Thursday, May 2nd. The company reported C$1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.05 by C$0.09. AltaGas had a net margin of 5.03% and a return on equity of 7.93%. The company had revenue of C$3.66 billion during the quarter, compared to the consensus estimate of C$4.13 billion. On average, equities research analysts expect that AltaGas Ltd. will post 2.1388695 EPS for the current fiscal year.

AltaGas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 28th will be given a dividend of $0.298 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.94%. AltaGas’s payout ratio is 57.77%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ALA shares. Jefferies Financial Group set a C$34.00 price target on AltaGas and gave the stock a “buy” rating in a report on Tuesday, February 27th. Scotiabank raised their price target on AltaGas from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Royal Bank of Canada raised their price target on AltaGas from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. BMO Capital Markets lifted their price objective on AltaGas from C$36.00 to C$37.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. Finally, CIBC lifted their price objective on AltaGas from C$36.00 to C$38.00 and gave the company an “outperform” rating in a report on Friday, May 31st. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AltaGas presently has a consensus rating of “Buy” and an average target price of C$35.00.

About AltaGas

AltaGas Ltd. operates as an energy infrastructure company in North America. The company operates through Utilities and Midstream segments. The Utilities segment owns and operates franchised, cost-of-service, rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.6 million customers.