Corine Renae Knight Bushfield Sells 144,064 Shares of AltaGas Ltd. (TSE:ALA) Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Corine Renae Knight Bushfield sold 144,064 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of C$38.00, for a total value of C$5,474,432.00.

AltaGas Price Performance

ALA opened at C$38.03 on Friday. The stock’s 50-day moving average price is C$34.96 and its 200 day moving average price is C$34.25. AltaGas Ltd. has a 12-month low of C$28.76 and a 12-month high of C$38.61. 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 firm has a market cap of C$11.32 billion, a price-to-earnings ratio of 22.04, a PEG ratio of -4.97 and a beta of 1.23.

AltaGas (TSE:ALA) last issued 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%. As a group, sell-side analysts expect that AltaGas Ltd. will post 2.3006093 earnings per share for the current year.

AltaGas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be issued a dividend of $0.315 per share. This is an increase from AltaGas’s previous quarterly dividend of $0.30. The ex-dividend date is Monday, March 17th. This represents a $1.26 annualized dividend and a yield of 3.31%. AltaGas’s dividend payout ratio is 68.98%.

Analyst Upgrades and Downgrades

ALA has been the topic of several recent analyst reports. CIBC upped their price target 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 upped their price target 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 issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.