Corine Renae Knight Bushfield Sells 144,064 Shares of AltaGas Ltd. (TSE:ALA) Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Corine Renae Knight Bushfield sold 144,064 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of C$38.00, for a total value of C$5,474,432.00.

AltaGas Stock Down 0.7 %

ALA opened at C$38.03 on Friday. The company has a debt-to-equity ratio of 135.26, a current ratio of 1.03 and a quick ratio of 0.44. The business has a 50 day simple moving average of C$34.96 and a 200-day simple moving average of C$34.25. The stock has a market capitalization of C$11.32 billion, a P/E ratio of 22.04, 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$38.61.

AltaGas (TSE:ALA) last posted its quarterly earnings results on Friday, March 7th. The company reported C$0.76 EPS for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. On average, equities analysts anticipate that AltaGas Ltd. will post 2.3006093 earnings per share for the current fiscal year.

AltaGas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be issued a $0.315 dividend. This is a boost from AltaGas’s previous quarterly dividend of $0.30. This represents a $1.26 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Monday, March 17th. AltaGas’s dividend payout ratio (DPR) is currently 68.98%.

Wall Street Analyst Weigh In

ALA has been the topic of a number of recent analyst reports. CIBC increased their price objective 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 price target on AltaGas from C$40.00 to C$42.00 in a research note on Monday, March 10th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.