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 business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of C$38.10, for a total value 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 stock was sold at an average price of C$38.00, for a total value of C$5,474,432.00.

AltaGas Stock Performance

Shares of TSE ALA opened at C$37.34 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. AltaGas Ltd. has a 12 month low of C$28.76 and a 12 month high of C$38.61. The stock has a 50 day moving average of C$35.04 and a 200-day moving average of C$34.28. The company has a market capitalization of C$11.12 billion, a P/E ratio of 21.64, a P/E/G ratio of -4.97 and a beta of 1.23.

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

AltaGas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be paid a $0.315 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from AltaGas’s previous quarterly dividend of $0.30. This represents a $1.26 annualized dividend and a yield of 3.37%. AltaGas’s payout ratio is 68.98%.

Analyst Ratings Changes

Several research firms have weighed in on ALA. Scotiabank boosted their price target on AltaGas from C$40.00 to C$42.00 in a research report 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 analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.