AltaGas Ltd. (TSE:ALA) Director Peter James Ledig Sells 25,200 Shares

AltaGas Ltd. (TSE:ALA) Director Peter James Ledig sold 25,200 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of C$38.35, for a total transaction of C$966,420.00.

AltaGas Stock Down 0.8 %

TSE ALA traded down C$0.31 on Wednesday, hitting C$38.05. 595,495 shares of the stock traded hands, compared to its average volume of 864,870. 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 stock has a 50-day moving average of C$34.68 and a 200 day moving average of C$34.15. AltaGas Ltd. has a twelve month low of C$28.63 and a twelve month high of C$38.61. The company has a market capitalization of C$11.33 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23.

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

AltaGas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were issued a dividend of $0.298 per share. The ex-dividend date was Monday, December 16th. This represents a $1.19 annualized dividend and a yield of 3.13%. AltaGas’s payout ratio is 68.98%.

Analyst Ratings Changes

A number of brokerages have commented on ALA. CIBC boosted their price objective on AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th. Scotiabank upped their price target on AltaGas from C$40.00 to C$42.00 in a report on Monday. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average 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.