AltaGas Ltd. (TSE:ALA) Senior Officer Randy Warren Toone Sells 16,000 Shares of Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Randy Warren Toone sold 16,000 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of C$29.58, for a total value of C$473,200.00.

Randy Warren Toone also recently made the following trade(s):

• On Friday, January 12th, Randy Warren Toone sold 5,036 shares of AltaGas stock. The stock was sold at an average price of C$28.30, for a total value of C$142,518.80.

AltaGas Stock Performance

AltaGas stock opened at C$29.92 on Friday. The stock’s 50 day moving average price is C$28.58 and its 200 day moving average price is C$27.57. The firm has a market capitalization of C$8.84 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of -4.97 and a beta of 1.22. The company has a debt-to-equity ratio of 125.64, a quick ratio of 0.44 and a current ratio of 0.89. AltaGas Ltd. has a one year low of C$21.94 and a one year high of C$29.95.

AltaGas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.298 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from AltaGas’s previous quarterly dividend of $0.28. This represents a $1.19 annualized dividend and a yield of 3.98%. AltaGas’s payout ratio is currently 52.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ALA shares. JPMorgan Chase & Co. decreased their price target on AltaGas from C$33.00 to C$32.00 and set an “overweight” rating for the company in a report on Monday, December 4th. Jefferies Financial Group set a C$34.00 price objective on AltaGas and gave the stock a “buy” rating in a research report on Tuesday, February 27th. CIBC raised their price target on AltaGas from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research report on Friday, December 29th. TD Securities raised their price target on AltaGas from C$32.00 to C$34.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Finally, Scotiabank raised their price target on AltaGas from C$31.00 to C$33.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$33.23.

AltaGas Company Profile

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 1.7 million customers.