Randy Warren Toone Sells 92,000 Shares of AltaGas Ltd. (TSE:ALA) Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Randy Warren Toone sold 92,000 shares of the business’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 Friday. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03. The stock’s fifty day moving average is C$36.29 and its two-hundred day moving average is C$34.74. The firm has a market capitalization of C$11.02 billion, a P/E ratio of 21.45, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. AltaGas Ltd. has a fifty-two week low of C$28.76 and a fifty-two week high of C$40.17.

AltaGas (TSE:ALA) last announced its quarterly earnings data 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 anticipate that AltaGas Ltd. will post 2.3006093 earnings per share for the current year.

AltaGas Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have commented on ALA shares. Scotiabank boosted their price objective on 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 analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$39.11.

About AltaGas

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.