AltaGas Ltd. (TSE:ALA) Senior Officer James Harbilas Sells 26,100 Shares of Stock

AltaGas Ltd. (TSE:ALA) Senior Officer James Harbilas sold 26,100 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of C$30.50, for a total transaction of C$796,050.00.

AltaGas Stock Performance

AltaGas stock opened at C$30.10 on Wednesday. The firm’s fifty day moving average price is C$29.54 and its 200-day moving average price is C$28.23. The company has a debt-to-equity ratio of 125.64, a quick ratio of 0.44 and a current ratio of 0.89. The stock has a market cap of C$8.89 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of -4.97 and a beta of 1.22. AltaGas Ltd. has a fifty-two week low of C$22.57 and a fifty-two week high of C$30.58.

AltaGas (TSE:ALA) last posted its quarterly earnings data on Friday, March 8th. The company reported C$0.75 earnings per share for the quarter, meeting the consensus estimate of C$0.75. The firm had revenue of C$3.29 billion for the quarter, compared to analysts’ expectations of C$4.11 billion. AltaGas had a net margin of 5.18% and a return on equity of 8.90%. On average, equities research analysts expect that AltaGas Ltd. will post 2.1549815 earnings per share for the current fiscal year.

AltaGas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 28th were given a dividend of $0.298 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.19 annualized dividend and a dividend yield of 3.96%. This is a boost from AltaGas’s previous quarterly dividend of $0.28. AltaGas’s dividend payout ratio (DPR) is 52.65%.

Analyst Ratings Changes

ALA has been the subject of several analyst reports. Royal Bank of Canada raised their price objective on shares of AltaGas from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. National Bankshares increased their target price on shares of AltaGas from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. TD Securities increased their target price on shares of AltaGas from C$32.00 to C$34.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Scotiabank increased their target price on shares of AltaGas from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, Jefferies Financial Group set a C$34.00 target price on shares of AltaGas and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, AltaGas has a consensus rating of “Buy” and an average price target of C$34.15.

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.