Insider Selling: AltaGas Ltd. (TSE:ALA) Senior Officer Sells 15,200 Shares of 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 shares were sold at an average price of C$38.40, for a total value of C$583,680.00.

AltaGas Stock Up 1.4 %

Shares of ALA opened at C$39.05 on Wednesday. The firm has a market capitalization of C$11.62 billion, a P/E ratio of 22.63, a P/E/G ratio of -4.97 and a beta of 1.23. AltaGas Ltd. has a 12-month low of C$28.76 and a 12-month high of C$39.28. The firm has a fifty day moving average price of C$35.57 and a 200-day moving average price of C$34.47. 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 (TSE:ALA) last issued 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%. Equities research analysts expect 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 will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be given a dividend of $0.315 per share. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from AltaGas’s previous quarterly dividend of $0.30. This represents a $1.26 dividend on an annualized basis and a yield of 3.23%. AltaGas’s payout ratio is 68.98%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. CIBC increased their price target on AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a report on Thursday, January 9th. Scotiabank increased their target price on shares of AltaGas from C$40.00 to C$42.00 in a research note on Monday, March 10th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.