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

AltaGas Ltd. (TSE:ALA) Director Peter James Ledig sold 13,361 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of C$40.04, for a total transaction 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 stock was sold at an average price of C$38.35, for a total value of C$966,420.00.

AltaGas Stock Down 5.4 %

ALA opened at C$37.01 on Friday. The company has a market cap 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 12 month low of C$28.76 and a 12 month high of C$40.17. 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 company has a 50 day moving average of C$36.29 and a 200 day moving average of C$34.74.

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

AltaGas Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ALA. Scotiabank increased their price objective on AltaGas from C$40.00 to C$42.00 in a report on Monday, March 10th. CIBC boosted their target price on AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a report on Thursday, January 9th. 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 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.