James Harbilas Sells 15,200 Shares of AltaGas Ltd. (TSE:ALA) Stock

AltaGas Ltd. (TSE:ALA) Senior Officer James Harbilas sold 15,200 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of C$38.40, for a total transaction of C$583,680.00.

AltaGas Stock Up 1.4 %

Shares of ALA stock opened at C$39.05 on Wednesday. The company’s fifty day simple moving average is C$35.57 and its two-hundred day simple moving average is C$34.47. AltaGas Ltd. has a 52 week low of C$28.76 and a 52 week high of C$39.28. The stock has a market cap of C$11.62 billion, a P/E ratio of 22.63, a PEG ratio of -4.97 and a beta of 1.23. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26.

AltaGas (TSE:ALA) last posted 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%. Analysts predict that AltaGas Ltd. will post 2.3006093 EPS for the current fiscal year.

AltaGas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be issued a $0.315 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change 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%. AltaGas’s dividend payout ratio (DPR) is 68.98%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ALA. Scotiabank raised their price objective on shares of AltaGas from C$40.00 to C$42.00 in a research report on Monday, March 10th. CIBC raised their price target on AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a report on Thursday, January 9th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.