AltaGas Ltd. (TSE:ALA) Director Acquires C$749,936.22 in Stock

AltaGas Ltd. (TSE:ALA) Director Derek Watson Evans acquired 19,239 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were purchased at an average price of C$38.98 per share, for a total transaction of C$749,936.22.

AltaGas Stock Up 0.8 %

TSE:ALA opened at C$38.99 on Friday. The stock has a 50-day simple moving average of C$35.85 and a 200 day simple moving average of C$34.57. AltaGas Ltd. has a one year low of C$28.76 and a one year high of C$39.28. The company has a market capitalization of C$11.61 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03.

AltaGas (TSE:ALA) last issued its 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%. Sell-side analysts predict that AltaGas Ltd. will post 2.3006093 EPS 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 given a $0.315 dividend. This is an increase from AltaGas’s previous quarterly dividend of $0.30. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Monday, March 17th. AltaGas’s dividend payout ratio (DPR) is presently 68.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ALA shares. Scotiabank raised their price target on shares of AltaGas from C$40.00 to C$42.00 in a report on Monday, March 10th. CIBC raised their target price on AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research note on Thursday, January 9th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, AltaGas has an average rating of “Moderate Buy” and a consensus target price 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.