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

AltaGas Ltd. (TSE:ALA) Senior Officer James Harbilas sold 26,100 shares of the stock in a transaction dated 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 Price Performance

Shares of ALA traded up C$0.08 on Tuesday, hitting C$30.28. The company’s stock had a trading volume of 62,244 shares, compared to its average volume of 773,325. The company has a 50 day moving average price of C$29.50 and a 200 day moving average price of C$28.19. The company has a debt-to-equity ratio of 125.64, a current ratio of 0.89 and a quick ratio of 0.44. The company has a market capitalization of C$8.94 billion, a PE ratio of 13.36, a PEG 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, hitting the consensus estimate of C$0.75. AltaGas had a return on equity of 8.90% and a net margin of 5.18%. The company had revenue of C$3.29 billion during the quarter, compared to analysts’ expectations of C$4.11 billion. On average, research analysts anticipate that AltaGas Ltd. will post 2.1549815 earnings per share for the current fiscal year.

AltaGas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.298 per share. This is a positive change from AltaGas’s previous quarterly dividend of $0.28. This represents a $1.19 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend was Thursday, March 14th. AltaGas’s dividend payout ratio is 52.65%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ALA shares. National Bankshares raised their price objective on shares of AltaGas from C$31.00 to C$33.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Royal Bank of Canada increased their target price on AltaGas from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Friday. Scotiabank raised their price objective on AltaGas from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a report on Friday. TD Securities upped their price target on shares of AltaGas from C$32.00 to C$34.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Finally, Jefferies Financial Group set a C$34.00 target price on shares of AltaGas and gave the company a “buy” rating in a research note on Tuesday, February 27th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average 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.