Peter James Ledig Sells 13,361 Shares of AltaGas Ltd. (TSE:ALA) Stock

AltaGas Ltd. (TSE:ALA) Director Peter James Ledig sold 13,361 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of C$40.04, for a total value of C$534,974.44.

Peter James Ledig also recently made the following trade(s):

• On Tuesday, March 11th, Peter James Ledig sold 25,200 shares of AltaGas stock. The shares were sold at an average price of C$38.35, for a total value of C$966,420.00.

AltaGas Trading Down 5.4 %

Shares of ALA stock opened at C$37.01 on Friday. The company has a market capitalization of C$11.02 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. AltaGas Ltd. has a 52-week low of C$28.76 and a 52-week high of C$40.17. The business’s fifty day moving average is C$36.29 and its 200 day moving average is C$34.74. 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 released its quarterly earnings results on Friday, March 7th. The company reported C$0.76 earnings per share for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. On average, equities research analysts anticipate that AltaGas Ltd. will post 2.3006093 EPS for the current fiscal year.

AltaGas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date was Monday, March 17th. This is a boost from AltaGas’s previous quarterly dividend of $0.30. AltaGas’s payout ratio is currently 68.98%.

Wall Street Analysts Forecast Growth

ALA has been the subject of several recent research reports. CIBC lifted their target price 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. Scotiabank lifted their price objective on shares of AltaGas from C$40.00 to C$42.00 in a research note on Monday, March 10th. One research 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, AltaGas has a consensus rating of “Moderate Buy” and a consensus target price of C$39.11.

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.