AltaGas Ltd. (TSE:ALA) Senior Officer Corine Renae Knight Bushfield Sells 108,589 Shares of Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Corine Renae Knight Bushfield sold 108,589 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of C$38.10, for a total value of C$4,137,240.90.

Corine Renae Knight Bushfield also recently made the following trade(s):

• On Wednesday, March 12th, Corine Renae Knight Bushfield sold 144,064 shares of AltaGas stock. The shares were sold at an average price of C$38.00, for a total value of C$5,474,432.00.

AltaGas Trading Down 1.8 %

TSE ALA opened at C$37.34 on Tuesday. The firm has a market cap of C$11.12 billion, a P/E ratio of 21.64, a P/E/G ratio of -4.97 and a beta of 1.23. 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 stock’s 50-day moving average is C$35.04 and its 200-day moving average is C$34.28. AltaGas Ltd. has a one year low of C$28.76 and a one year high of C$38.61.

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

AltaGas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be given a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Monday, March 17th. This is a positive change from AltaGas’s previous quarterly dividend of $0.30. AltaGas’s dividend payout ratio (DPR) is currently 68.98%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ALA shares. 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. Scotiabank raised their target price on 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.