Insider Selling: AltaGas Ltd. (TSE:ALA) Senior Officer Sells C$583,680.00 in Stock

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

AltaGas Stock Down 0.2 %

ALA opened at C$38.98 on Thursday. AltaGas Ltd. has a fifty-two week low of C$28.76 and a fifty-two week high of C$39.28. The firm has a market capitalization of C$11.60 billion, a P/E ratio of 22.59, a PEG ratio of -4.97 and a beta of 1.23. The company’s 50-day moving average is C$35.68 and its 200 day moving average is C$34.50. The company has a debt-to-equity ratio of 135.26, a current ratio of 1.03 and a quick ratio of 0.44.

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 net margin of 4.04% and a return on equity of 6.36%. Research analysts expect that AltaGas Ltd. will post 2.3006093 earnings per share for the current fiscal year.

AltaGas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from AltaGas’s previous quarterly dividend of $0.30. AltaGas’s dividend payout ratio is 68.98%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ALA shares. CIBC lifted their price target on shares of AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th. Scotiabank lifted their price objective on shares of AltaGas from C$40.00 to C$42.00 in a report on Monday, March 10th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.