AltaGas Ltd. (TSE:ALA) Senior Officer Donald Mark Jenkins Sells 1,800 Shares

AltaGas Ltd. (TSE:ALA) Senior Officer Donald Mark Jenkins sold 1,800 shares of AltaGas stock in a transaction on Monday, May 5th. The shares were sold at an average price of C$39.02, for a total value of C$70,236.00.

AltaGas Price Performance

Shares of TSE:ALA opened at C$37.96 on Friday. The company has a market capitalization of C$11.30 billion, a PE ratio of 22.00, 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. The stock has a fifty day moving average of C$38.69 and a 200-day moving average of C$35.65. AltaGas Ltd. has a one year low of C$29.67 and a one year high of C$40.98.

AltaGas (TSE:ALA) last announced 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%. As a group, equities analysts anticipate that AltaGas Ltd. will post 2.3006093 EPS for the current fiscal year.

AltaGas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were given a $0.315 dividend. This is an increase from AltaGas’s previous quarterly dividend of $0.30. This represents a $1.26 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Monday, March 17th. AltaGas’s dividend payout ratio (DPR) is 68.98%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Scotiabank raised their price target on AltaGas from C$42.00 to C$45.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. CIBC raised their target price on shares of AltaGas from C$42.00 to C$43.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Jefferies Financial Group upped their price target on shares of AltaGas from C$38.00 to C$40.00 in a research note on Wednesday, April 30th. JPMorgan Chase & Co. raised their price objective on shares of AltaGas from C$39.00 to C$41.00 in a research note on Monday, April 21st. Finally, BMO Capital Markets upped their target price on AltaGas from C$40.00 to C$43.00 in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$41.33.

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.