AltaGas Ltd. (TSE:ALA) Senior Officer Sells C$418,732.80 in Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Donald Mark Jenkins sold 12,352 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of C$33.90, for a total transaction of C$418,732.80.

AltaGas Trading Up 2.2 %

TSE ALA opened at C$34.98 on Friday. The stock’s fifty day moving average price is C$33.71 and its 200-day moving average price is C$33.20. The company has a current ratio of 0.85, a quick ratio of 0.44 and a debt-to-equity ratio of 115.50. The stock has a market cap of C$10.40 billion, a P/E ratio of 24.12, a P/E/G ratio of -4.97 and a beta of 1.23. AltaGas Ltd. has a 12 month low of C$26.91 and a 12 month high of C$35.77.

AltaGas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.298 per share. The ex-dividend date was Monday, December 16th. This represents a $1.19 dividend on an annualized basis and a yield of 3.41%. AltaGas’s dividend payout ratio is currently 82.07%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. CIBC increased their price target on shares of AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th. ATB Capital set a C$36.00 target price on AltaGas and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Jefferies Financial Group lifted their price target on AltaGas from C$37.00 to C$39.00 and gave the company a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. downgraded AltaGas from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from C$36.00 to C$37.00 in a report on Wednesday, October 23rd. Finally, Scotiabank boosted their target price on shares of AltaGas from C$38.00 to C$39.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$38.30.

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.