AltaGas Ltd. (TSE:ALA) Senior Officer Randy Warren Toone Sells 92,000 Shares of Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Randy Warren Toone sold 92,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of C$39.19, for a total value of C$3,605,480.00.

AltaGas Stock Down 5.4 %

Shares of ALA opened at C$37.01 on Friday. The firm has a fifty day moving average price of C$36.29 and a 200-day moving average price of C$34.74. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. The firm has a market capitalization of C$11.02 billion, a P/E ratio of 21.45, 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$40.17.

AltaGas (TSE:ALA) last released its quarterly earnings data on Friday, March 7th. The company reported C$0.76 earnings per share (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 disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were issued a dividend of $0.315 per share. This is an increase from AltaGas’s previous quarterly dividend of $0.30. This represents a $1.26 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Monday, March 17th. AltaGas’s dividend payout ratio (DPR) is presently 68.98%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ALA shares. 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 raised their target price on shares of AltaGas from C$40.00 to C$42.00 in a report on Monday, March 10th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$39.11.

AltaGas Company Profile

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.